Banks Assure Customers Of Safe Deposits As Worldwide Cyber Threat Escalates

Nigerian banks have reassured customers that the country’s financial system remains secure and resilient despite a sophisticated global cyber campaign targeting organisations across multiple sectors and continents.

Industry sources said banks acted swiftly to contain any potential impact of the coordinated cyber threats, stressing that banking services remain uninterrupted and customer deposits are safe.

According to cybersecurity analysts, the ongoing campaign is one of the most coordinated in recent years and is not unique to Nigeria or the financial sector. Organisations in telecommunications, healthcare, government, energy, technology and corporate registries across Europe, Asia, the Americas and Africa have also come under attack, highlighting the growing global challenge posed by cybercrime.

International cybersecurity firm Check Point reported a 115 per cent increase in cyberattacks on the global financial sector last year, with organisations facing thousands of attempted intrusions every week. The latest campaign has reportedly affected more than 35 organisations across several countries and industries.

Despite the widespread attacks, Nigerian banks said their digital platforms and banking services remain fully operational. They noted that incident response protocols were activated immediately after reports of the cyber campaign emerged, with banks collaborating closely with regulators, law enforcement agencies and international cybersecurity partners to strengthen their defences.

The industry added that Nigerian banks have invested significantly in advanced cybersecurity infrastructure over the years to safeguard customer information and financial assets.

Experts explained that in today’s digital environment, no organisation can claim complete immunity from cyber threats. Instead, resilience depends on the speed and effectiveness of response measures, an area in which Nigerian banks said they have complied fully with regulatory requirements.

Customers have, however, been advised to remain vigilant against fraudsters who may exploit the situation through fake phone calls, text messages and emails.

Banks warned customers never to disclose sensitive banking information, including passwords, Personal Identification Numbers (PINs), One-Time Passwords (OTPs), card details or Bank Verification Numbers (BVNs), to anyone over the phone, stressing that no bank will request such information through calls or messages.

They also urged customers to avoid clicking suspicious links, opening unsolicited emails or downloading attachments from unknown sources. Anyone who notices unusual account activity or suspects fraud is advised to contact their bank immediately through official customer care lines, mobile applications, websites or branch offices.

The banking industry maintained that while governments and organisations around the world continue to strengthen their digital security systems, Nigeria’s banking sector remains alert, prepared and committed to protecting customers’ funds and data.