Students To Debate Financial Fraud As Experts Warn Of Fake Giveaways, Celebrity Scams

Nigerian students will compete in a debate on financial crimes prevention, part of Access Bank’s anti-scam initiative to help young people spot manipulation, avoid vices like drug trafficking, and know when to seek help.

The programme, which combines nationwide education with a debate championship in Lagos, is designed to teach young people how to identify red flags and develop safe digital and financial habits as they increasingly use social media, smartphones and online platforms.

It also seeks to address growing concerns over the sophistication of digital fraud and the vulnerability of young people to scams conducted through social media and digital messaging platforms.

The debate competition, which starts with the preliminary phase through to the grand finale in December 2026, is open to both public and private secondary schools in Lagos State.

Speaking at the launch in Lagos, the chief conduct and compliance officer of Access Bank, Solomon Abiakalam, said the initiative was informed by rising cases of financial crimes involving young Nigerians.

Recounting an incident on December 10, 2024, in Victoria Island where the Economic and Financial Crimes Commission (EFCC) arrested 792 young people in a building operating as a tech business, Abiakalam said the suspects were allegedly involved in romance scams, hacking and money laundering targeting victims overseas.

He described such activities as predicate offences that fuel money laundering and stressed that while financial crimes are non-violent, their impact can be more devastating than violent crimes.

Abiakalam said beyond regulatory compliance, the bank has implemented controls to prevent the flow of crime proceeds through its systems and is now taking the fight against Money Laundering, Terrorist Financing and Proliferation Financing upstream by educating potential victims and perpetrators.

“If every young person in this programme knows how to protect themselves from financial crime, not to be victims or perpetrators, the future of our country will be bright,” he said.

He added that the bank wants to raise young people who remain “unbowed,” “unbent,” and “unbroken” in the face of financial crime pressures.

Also speaking, head, Regulatory and Financial Crime Compliance at Access Bank, Inyang Etim, said tackling financial crimes requires a multi-stakeholder approach involving schools, parents, banks, telecom companies and government, urging parents to create a safe space for children to report suspicious experiences without shame.

Head, SME Banking, Abiodun Olubitan, said fraudsters often lure children through games, small rewards, recharge cards and fake celebrity profiles, noting that just as the bank conducts regular Anti-Money Laundering training for staff, similar education must be extended to children at the grassroots.

Representative of the Lagos State Ministry of Basic and Secondary Education, Ronke Matuluko, said the Ministry’s policy ensures no child is left behind, with guidance counsellors available in schools to advise students on how to avoid scams.