Central Bank of Nigeria (CBN) has recounted the achievements of the Nigeria electronic Fraud Forum (NeFF) in transforming the payment environment since its creation in 2011.
Through the years, NeFF has responded to the dynamic environment and ensuring that Nigerians are not only protected, public confidence is also restored, Suleiman Barau, deputy governor, operations, said during the weekend at NeFF dinner held in Lagos.
He was pleased with NeFF’s collaborative efforts aimed at cementing a relationship with law enforcement agencies. He specifically mentioned a high profile visit to IGP, Solomon Arase, which he said received a huge boost when the IGP ordered immediate establishment of dedicated e-payment in the Nigeria Police at the instance of CBN and NeFF.
In the same vein, he noted that the forum visited the Chief Justice of Nigeria and the visit had also strengthened relationship with the judiciary, adding that the two institutions gave the forum constructive recommendations, which it would follow.
Speaking at the forum, Dipo Fatokun, director, banking and payments department, CBN, said: “It is gratifying to note that the year 2015 has been very fruitful in the life of the forum. You will recall that we did affirm towards the end of last year that this forum will be stronger, will be more committed and will be more proactive in the fight against e-fraud.”
He said the report from the Nigeria Inter-Bank Settlement System (NIBSS) showed clearly that there had been a reduction by 45.98 percent in attempted fraud while there was 63.07 reduction based on actual losses for 2014 figures.
