SMS banking may not be in the best interest of Nigerians at the moment. Anyone, at gun point, could be forced to transfer money to accounts that thieves have access to from which instant withdraws can be made. With limited options open to victims, the consequences of refusing to cooperate can be discomforting, injurious or fatal.

Banks should be a step or two ahead of potential crimes targeted (or that could be targeted) at their operations. Criminals in Nigeria should be denied opportunities. I even wonder why nothing has been done about the numerous attacks on innocent people using ATM cards. Thieve rob people of money using the victims ATM cards and PIN collected by force mostly at gun point.

The possibility that people can transfer money using mobile phones presents even greater risks to public safety in Nigeria. Banks are aware of these possibilities and should device ways to protect the public. The sms money transfer is great but should not be deployed until necessary security infrastructures address potential risks. That victims do not operate SMS transfers or do not even have an account may not be good enough for desperate criminals.