Wednesday, March 4, 2026
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Business

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ICT

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Insurance

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Insurance

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FRAUD ALERT! First Bank SMS System Hacked by Fraudsters

Hackers have successfully infiltrated the internal SMS system of First Bank of Nigeria Limited by sending out fraudulent text messages to customers of the bank claiming that their account and ATM had been blocked due to the cashless policy of the Central Bank of Nigeria (CBN) and asking the customers to call a particular GSM number to rectify the situation.

The text message by the hackers using the name of First Bank read thus:

Dear customer, as regard to cashless policy, Your Account, ATM has been Locked due to change in date of birth, Contact customer care on 08111282787 to rectify.

But some customers that called the number reported the response thus:

You are not allowed to call this number.

During a visit this morning to First Bank branch at Ikotun in Lagos, a customer care officer said the message came from hackers and not from the bank. He warned customers of the bank not to call the number or disclose their account and ATM details for any reason.

He said the bank is aware of the situation but could not explain why First Bank has failed to send out a counter text message to its customers nationwide to protect them from falling victims to the hackers.

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CBN Defends Forex Ban Policy

Mr. Moses Tule, Director of Monetary Policy, Central Bank of Nigeria (CBN) has stoutly defended the recent restrictions placed on forex by the apex bank, saying it is a move to stem gradual erosion of value of the Naira. The CBN had placed a ban on importers of certain commodities from accessing foreign exchange from the forex window. Tule was a guest speaker at a Forum organised by the Lagos Chamber of Commerce and Industry (LCCI) that sought to bring together the regulator and the private sector to discuss urgent and topical issues that have implications for the economy.

African Securities Exchanges Association Confab Reflects Strength of Continent’s Capital Markets

The African Securities Exchanges Association (ASEA), a premier association of 25 securities exchanges from across the continent—will hold its annual conference in Johannesburg from 15 – 17 November. ASEA President Oscar Onyema said that the theme of the conference—Africa Evermore: Growth for sustainability—embodied the potential, growth, and stability of Africa’s capital markets. The Johannesburg Stock Exchange (JSE), the continent’s largest and member of the World Federation of Exchanges (WFE), will host the conference.
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