The Central Bank of Nigeria recent measures to fast-track the race towards a cashless society has been criticized by many quarters. Although, the ultimate end of the apex bank’s move has been identified in the realm of tackling corruption in the long run, the ripple effect of the move is yet to simmer down with the common man who perceives such move as a threat to social and financial practices.

While some have said that the state of the country’s economy is not ready for this eco-digital policy, others have said that the Infrastructure to drive this is not yet in place.

The move seems to be an extreme move by the apex bank which might be difficult because of the way business is done. “We are a nation of traders; our medium of exchange of choice is cold hard cash. An average buy-and-sell merchant goes to the market with a wad of cash stuffed in his sock or carefully folded in her corset.”

Nevertheless, no matter how far or near this move may be, it still stares at us and as such we should prepare. Most criticism have not elaborated on the security challenges but I assure you this will definitely y open a whole new chapter of cyber crime in Nigeria.

Cyber crimes in Nigeria has been peculiar to 419 activities over the internet, we will now be faced with a hacking, identity thefts, SQL Injection, social engineering and lot more. How prepared are we for this?

Breaches into multinational, banks and government agencies flood over the news almost on weekly basis all over the world, but what baffle me is that we never hear such news about security breaches in Nigeria. Does it mean that it never happens or could it be that we do not just disclose such news to public interest. Maybe there is no law making it mandatory for such information to be disclosed.

Let’s get to know your problems with all forms of e-payment  systems we have in Nigeria, whether is at the mall’s POS, ATMs, Web or even transfers.

Let’s get to know? Its only when we know then we can cry out to make it better…