Nigerian Banks Reassure Customers As Global Cyberattacks Intensify

As a fresh wave of cyberattacks continues to sweep across the globe, banks in Nigeria have moved swiftly to contain the effects of a sophisticated global cyber campaign sweeping across sectors and continents, with industry sources assuring the public that the nation’s financial system remains strong, resilient and secure.

This comes as bank customers have been warned to remain vigilant and watch out for the several tactics used by fraudsters to obtain sensitive private information that could compromise their financial safety.

The campaign, described by analysts as one of the most coordinated waves of attacks in years, is neither peculiar to Nigeria nor limited to finance. Organisations in telecommunications, healthcare, government, energy, technology and corporate registries across Europe, Asia, the Americas and Africa have been targeted by the same wave of intrusions, underscoring the borderless nature of modern cybercrime.

According to CheckPoint, a leading international cybersecurity firm, there was a 115 per cent surge in attacks on the global financial sector last year, with organisations worldwide facing thousands of attempted intrusions each week. The current campaign has been linked to threat actors that have struck more than 35 organisations across several countries and sectors.

Despite the onslaught, banking services and digital channels across Nigeria remain fully operational and customer deposits are safe.

Banks activated their incident response protocols as soon as reports emerged, working closely with regulators, law enforcement and international cybersecurity partners to investigate and strengthen their defences.

Nigerian banks operate some of the most advanced cybersecurity infrastructure on the continent, backed by years of sustained investment in protecting customer information and assets. Experts note that resilience in an era of global cyber warfare lies not in immunity from attack, which no organisation can claim, but in the speed and rigour of response, and on that measure the industry has acted decisively and in full compliance with regulatory requirements.

As fraudsters often exploit moments of heightened attention with fake calls, text messages and emails, analysts say there is a need for the banking public to remain vigilant. Customers are expected never to divulge personal or banking information, including passwords, PINs, One-Time Passwords (OTPs), card details, or Bank Verification Numbers (BVNs), to anyone over the telephone, however convincing the caller may sound; no bank will ever ask for these details.

Customers are also expected to avoid opening suspicious emails, clicking unfamiliar links or downloading attachments from unknown senders. Anyone who suspects foul play or unusual account activity should contact their bank immediately, and only through its dedicated official channels: verified customer care lines, official websites, mobile applications or branches.