By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has warned banking customers to safeguard their financial information by never sharing their personal identification numbers (PINs), passwords, and other sensitive banking details with anyone.

The apex bank, in a post obtained from its X handle on Monday, advised customers as the world observes Global Money Week 2026 amid rising cases of fraud and scams targeting unsuspecting bank customers.

It emphasised that even individuals claiming to be bank officials should not be trusted with personal banking information.

“Protect your money by protecting your information. As we mark Global Money Week 2026, remember: your PINs, passwords, and banking details should never be shared with anyone, not even someone claiming to be from your bank. Stay alert. Stay safe.”

The warning comes amid worries as fraudsters often impersonate bank officials via phone calls, text messages, or emails to trick customers into revealing sensitive data. This has been made worse with the development of artificial intelligence (AI).

Global Money Week is an annual international campaign that promotes financial literacy, money management, and consumer protection. It is being observed worldwide, including in Nigeria, with a focus on safe banking practices.

This year’s theme, Smart Money Talks, focuses on supporting young people to talk openly about money, develop essential financial skills, and make informed decisions that build long‑term confidence and financial well‑being

Throughout Global Money Week, people and institutions will carry out programmes that will aid learning about the necessary money management skills, attitudes and behaviours needed to make smarter future financial decisions.

Topics like scams and fraud awareness, managing finances, understanding transactions and protecting consumer rights will also be explored across the world.

By Adedapo Adesanya

The Fintech Association of Nigeria has backed the recent slew of regulatory measures by the Central Bank of Nigeria (CBN), saying it will strengthen banking security, curb fraud and boost trust.

Mr Oluwaseun Adesanya, National Treasurer of the association, in an interview with the News Agency of Nigeria (NAN) in Lagos over the weekend, said the policies, including restricting banking applications to a single device, were designed to safeguard the financial ecosystem.

He said the regulator introduced the measures to improve security, protect customers and strengthen confidence in digital banking platforms.

Mr Adesanya, speaking on the sidelines of an induction and award ceremony organised by the Chartered Institute of Bankers of Nigeria (CIBN), said improved security will enhance convenience for customers and reinforce trust in financial institutions.

Mr Adesanya added the reforms would also help banks reduce losses from non-performing loans by strengthening credit facility frameworks.

“This will bring more sanity into the financial system and help banks avoid making provisions for loans that are no longer performing,” he said.

He noted that the regulatory initiatives were aimed at creating a safer environment for stakeholders across the financial services industry.

Last week, the CBN made some fresh regulatory moves aimed at strengthening the Nigerian banking ecosystem, including the announcement of new baseline standards requiring financial institutions to deploy automated anti-money laundering (AML) systems.

The new framework sets minimum standards for automated anti-money laundering solutions designed to strengthen the detection and reporting of financial crimes within Nigeria’s rapidly digitising financial ecosystem.

The CBN explained that the guidelines establish a baseline structure for financial institutions to deploy advanced monitoring tools capable of flagging suspicious financial activities instantly.

Also, it directed Nigerian banks to flag suspected fraud Bank Verification Numbers (BVNs) after a 24-hour watchlist from May 1, as well as updates on phone numbers linked to a BVN shall be allowed only once in a lifetime.

By Adedapo Adesanya

NOVA Bank Limited has announced the appointment of Jude Anele as its chief executive, following the approval of the Central Bank of Nigeria (CBN).

The appointment comes at a pivotal moment in the bank’s evolution, following its transition from merchant banking to commercial banking and the successful completion of its recapitalisation programme ahead of the March 31, 2026, regulatory deadline.

Mr Anele, according to a statement over the weekend, brings more than 33 years of banking experience across West and Central Africa, with deep expertise in retail/commercial banking, corporate banking, risk management, institutional transformation and executive leadership.

Over the course of his career, he has led complex banking operations, strengthened governance frameworks, delivered sustainable revenue growth and built high-performance teams.

The appointment reflects the board’s strategic commitment to consolidating NOVA Bank’s commercial banking platform while accelerating growth across its Corporate, Commercial and Retail segments, as well as priority markets.

Speaking on his appointment, Mr Anele said he was honoured to assume leadership of the Bank at a defining stage of its growth. “Nova Bank has built a strong institutional foundation defined by regulatory compliance, capital strength, disciplined governance and a clear commercial mandate.

“Our focus now is execution — deepening customer relationships, expanding responsibly across priority markets, strengthening risk discipline and delivering sustainable value to our shareholders,” he said.

On his part, the Bank’s Chairman, Mr Phillips Oduoza, also expressed confidence in the new leadership.

“The board is pleased to welcome Mr Jude Anele as Managing Director and Chief Executive Officer. His depth of experience, strategic clarity and proven leadership record align strongly with NOVA Bank’s growth ambitions,” Mr Oduoza said.

He added that with recapitalisation completed ahead of the regulatory timeline, the Bank is entering a new phase defined by scale, stability and structured expansion.

NOVA Bank also confirmed that it had met the recapitalisation requirements set by the CBN ahead of the regulatory deadline, reinforcing its capital adequacy and long-term financial stability.

The capital raise, supported by new and existing shareholders, further strengthens the Bank’s balance sheet and positions it for disciplined growth.

NOVA Bank currently maintains operations in Lagos, Abuja, Owerri and Port Harcourt, with plans to open eight additional branches across key commercial hubs in 2026 as part of its expansion strategy.