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“The process won’t suffer any encumbrance as a result,” Yakubu assured.

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7 Simple Steps To Detect Fake Bank Alerts

The introduction of cashless policies is a wonderful thing, but it has been used by scammers to swindle consumers and steal their money. It has recently gotten worse, given the ongoing implementation of the Naira redesign strategy.

Nigerians now have restricted access to cash. Mobile transfers have only been utilized as a last option. In the previous two weeks, the amount of transactions through this channel has been tremendous.

The emergence of bogus credit warnings is a problem with mobile money transfers using USSD codes or banking apps. There is also the issue of not receiving credit alerts as a result of network faults.


Cashless Nigeria is a program implemented by the Central Bank of Nigeria in 2012 to reduce excesses in cash handling in the Nigerian federation.

It imposed cash handling fees on daily withdrawals of more than N500,000 for individuals and N3,000,000 for corporations (N3,000,000.00).

False transfer alerts, which can be transmitted via text messages, emails, and mobile banking apps, are unfortunately frequent in Nigeria.

Scammers utilize fake notifications to fool victims into thinking they’ve received a payment, then demand that products or services be supplied before the payment clears.

As a result, the victim may lose their goods or services without receiving payment.

However, here are the common ways to spot a fake money transfer:

Examine the sender’s email or phone number. Scammers frequently use fake email addresses or phone numbers that look exactly like legitimate ones, so double-check the sender’s information.

Check for spelling and grammar errors. Genuine banks and financial institutions typically have stringent quality control procedures in place, and their communications are unlikely to contain obvious errors.

Check with the sender to confirm the transaction. If you receive a money transfer alert from someone you know, call or message them to confirm that the transfer was initiated by them.

Don’t click on any links or download any attachments. Scammers may include malicious links or attachments in their fake alerts that can install malware on your device or steal your personal information.

Check your account balance. If you receive a money transfer alert but your account balance doesn’t reflect the transfer, it’s likely a fake.

Be cautious with urgent requests. Scammers may try to put you under pressure to act immediately, but legitimate money transfers typically take a few business days to process.

Use reliable sources. If you have any doubts about the legitimacy of a money transfer alert, contact your bank or financial institution directly using a phone number or email address from their official website.

A former governor of Edo state, Adams Oshiomhole, has urged the people of the state to hold onto their old naira notes until the end of President Muhammadu Buhari's administration.

Speaking to some of his supporters at the Jattu market in Auchi Edo North, the former chairman of the All Progressives Congress condemned the new monetary policy of the Federal Government led by the governor of the Central Bank of Nigeria, Godwin Emefiele.

Oshiomhole, in a trending video seen by Legit.ng said Buhari has no option but to obey the Supreme Court's order on the implementation and deadline for swapping of old notes for new ones.

Speaking to the people in Pidgin English, Oshiomhole expressed worry that Buhari's administration did not implement such a policy on the eve of his 2023 re-election bid.

He said:

“All this wahala wey Buhari put for currency change, my hand no dey inside. Our party don tell Buhari, wait if you want change currency, you should not change ham during election.
"Wetin you no change during your time, you wan make ham spoil another pesin time, e no good. At this point, nah only good we go dey fear.
“He has to obey the Supreme Court. Supreme Court judgement is superior to the pronouncement of the president.
"That is the Nigerian law. Under Nigerian Democracy, the Supreme Court once it pronounced, the president must obey. Because every where I go, I disassociate myself. Because the truth is, the money in your hand, no be you print ham. The colour wey e wear. No be you choose ham."
noting that the old notes are still legal tender across the country, the former governor urged the market people and business owners not to throw away their money as this administration will expire after the presidential election on Saturday, February 25.

His words:

“Nah them choose ham. If the say dey want to change it, make them give you the new ones. Now they want to remove the old ones, they no give you the new ones.
"So if you have the old money, don’t throw it away. On this matter, President Buhari is on his own. Your Naira will remain valid according to the Supreme Court. Don’t throw away your Naira, keep it.
“By the time you finish voting on Saturday, Emefiele the Central Bank Governor, will expire. Your money will not expire. But the president will expire."

Where does he stands now ...

We don hear.....

A lot of stakeholders have expressed concern over the Fbruary 10 deadline for the new Naira policy by the Central Bank of Nigeria (CBN), describing it as a good policy hampered by poor implementation. The Supreme Court also gave a restraining Order asking the CBN to halt its deadline. What’s your take on the whole scenario?

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Very

How about glo

Make una no postpone this election oooo.

Oshiomhole also commended Buhari for giving his all to governance and to ensuring that the APC maintained and strengthened its hold on power.

Ok
Let's use the old and new notes alongside.

Even thou, O Court.

What illustration was he trying to figure.