20,000 Fall Victims of Online Financial Frauds, NCC Discloses

Kemi Olaitan in Ibadan

The Nigerian Communications Commission (NCC) yesterday disclosed that no fewer than 20,000 Nigerians had fallen victims of online financial frauds while reiterating its commitment to work assiduously to protect telecommunications subscribers against what it described as loan sharks. 

NCC Head of Consumers Affairs Bureau, Mr. Ayanbanji Ojo made the disclosure, during a telecoms consumers sensitisation programme held at the Spare parts Market, Agodi-Gate, Ibadan, the Oyo State capital. 

He cautioned members of the public to be wary of the activities of these fraudsters, saying the commission has received over 20,000 complaints of those who have fallen victims of the sharp practices of online fraudsters.

While noting the need to educate the people on the financial fraud going on in the telecoms space, he said the activities of the loan sharks had caused a lot of people pain with many traders vulnerable to online fraudulent practices.

He, however, enjoined telecoms consumers to always approach their service providers to resolve their complaints, stating that if they were unable to resolve it, they should approach the commission by dialling 622 which is toll-free.

He said the market people “are our telecoms consumers for without them we can not exist as a regulator. The market people deserve to know what is going on. Today’s programme is different from what we did recently at Bodija and University of Ibadan. 

“Today, we are talking about “Shine Your Eyes.” This means there are many financial frauds going on through the telecoms. We want to educate our people particularly the traders because most of them are vulnerable to what is going on in the telecoms space.

“There have been so many complaints on loss of money, so we need to educate our consumers all the time because we are now in the sustainability of telecommunications industry and if we do not sustain the telecoms consumers there is nothing we cannot do. 

“The complaints we have been able to receive are over 20,000, even the money the loan shark saying a person on your contact list collected loan, how did they get your number, this is the kind of things we are trying to protect the people from, we have to educate them, so when people have information they are protected.”

Ojo then urged the traders to use strong passwords in emails, private networking platforms, and avoid clicking on any link to avoid theft.

The President of Ibadan Motor Parts Dealers Association, Chief Olanrewaju Ishola, in his remarks, thanked the Commission for bringing such educational programs to the market, stating that market men and women are glad to receive the Commission as the program was helpful and educative.

He said the program “is very important. As you can see, our people came out in their numbers to attend. They have listened and have learnt a lot. We love the program. It is very helpful. We want to thank the NCC for bringing it to our doorstep. We look forward to having more programs of this kind.”