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‘Be Smart, Protect Your Money From Fraudsters’ – CBN Tells Nigerians

The Central Bank of Nigeria (CBN) has encouraged Nigerians to teach themselves and their children about the activities of fraudsters and scammers, in order to protect their money from these criminals....CONTINUE READING

Speaking on Tuesday, March 19, 2024, in Abuja at the 2024 Global Money Week (GMW) celebration, Deputy Governor in charge of Financial System Stability (FSS), Mr Philip Ikeazor stated that children should be educated on how criminals dupe unsuspecting members of the public of their hard-earned money.

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The theme for the programme was ‘Protect your Money, Secure your Future’.

Mr Ikeazor stressed on why it was important to learn at an early age, to always think about your future when making financial decisions.

“It emphasizes the importance of not only making money, but understanding frauds and scams, saving, and investing for your future. Equipped with such skills at this young age will enable you achieve financial independence and a financially secure future.

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“Truth be told, having an income, and making a substantial amount of money does not guarantee financial security. What is important is your ability to develop and hone skills and attitudes to manage your financial resources to have a secure future.

“In addition to this, it is vital to know the types of frauds and scams, how to respond to scammers, and various ways to protect your money online and offline.

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“This also implies knowing how to report to a bank if you do have an encounter with scammers or fraudsters. In essence, the financial decisions you make today and the education you acquire today have a huge impact on your future.

“Therefore, when you learn these skills at a young age and with consistent practice, you will have a brighter future. So, be smart about your money while you are still young; save, budget and become educated.”