COVID-19 fraudsters on the prowl, Magu warns

Ibrahim Magu, Acting EFCC Chairman

The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has advised Nigerians to be wary of fraudsters using the raging Coronavirus  pandemic to defraud unsuspecting victims.
Acording to him,  fraudsters are on the prowl promising innocent Nigerians access to palliatives from the government,  in a bid to manipulate their banking details against them.
“Do not accept calls from unknown person purporting to be in charge of distribution of palliatives on behalf of federal government or  asking you to send details of your bank account”,  he said.
Magu, who spoke through Philips Stephanie, Head, Advance Fee Fraud, AFF Section, Makurdi Office of the EFCC, called on financial institutions and Designated Non-Financial Institutions, DFNIs, to always apply due diligence in handling online financial transactions to stem the growing rate of cybercrime in the country.
He explained further that there are regulations from Central Bank of Nigeria, CBN, guiding the operations of the,  Point of Sales (PoS) operators.
He stressed the need for financial institutions and DNFIs to always ensure that they keep to the dictates of the law in their operations and warned that the EFCC would not tolerate any   breach of extant laws.
The EFCC boss lamented the impact of  cybercrime on the economy, stressing that it was a crime with multiplier effects. “People are losing their jobs on a daily basis as a result of cyber crime”,  he said.