Police National Cybercrime Centre Raises Alarm over Trend of Banks facilitating Transfer of Fraudulent funds for Cyber Criminals; Seeks Collaborative Efforts to Secure Nigeria’s Cyberspace

The Director of the Nigerian Police Cybercrime Centre (NPF-NCCC), Commissioner of Police, Henry Ifeanyi Uche has raised the alarm that some accounting officers of banking institutions are facilitating transfer of fraudulent funds for cyber criminals and ignoring the required Post No Debit requirement required for Police investigation

CP Uche made this known at the 2024 conference of the Committee of Chief Information Security Officers of Nigerian Financial Institutions (CCISONFI), at the weekend

The conference, themed “Driving Cyber Resilience in the Age of Emerging Technologies,” brought together key players in the cybersecurity sector to discuss current challenges and strategies in Uyo.

A statement by the Police Cybercrime Centre said CP Uche emphasized the critical need for a unified approach to combating cybercrime.

While calling on all cybersecurity stakeholders to work together to protect Nigeria’s cyberspace, CP Uche who is also the Chairman, INTERPOL Africa Working Group on Cybercrime, expressed disappointment over the non-compliance of financial institutions with court orders.

He highlighted instances “where some account officers of some banking institutions facilitated the transfer of fraudulent funds for cyber criminals before adhering to the required Post No Debit (PND) directives which is very instrumental to our (Police) investigation.

CP Uche further stated that “Collaboration with the Nigeria Police Force National Cybercrime Center by cybersecurity experts will significantly reduce cybercriminal activities in our country,”.

He underscored “the alarming level of coordination among cybercriminals globally”, stressing that cybercrime is a trans-border issue that demands a coordinated and robust collaboration between all relevant stakeholders.

Despite these challenges, CP Uche said the NPF-NCCC has achieved some significant successes over the past six months, including the recovery and repatriation of thousands of dollars, the retrieval of over one billion naira, and the conviction of more than twelve (12) cybercriminals.

He reiterated the importance of continued collaboration and information sharing among stakeholders.

His words, “”We can not do it alone, The Nigeria Police Force National Cybercrime Center cannot do it alone, hence the need for maximum cooperation, transparency and seamless collaboration.

“We need all the support and valuable information we can get from all stakeholders to aid our investigations and combat cybercrime effectively in Nigeria.”