By Ayomide Otitoju
Nigerian banks have assured customers that their funds and banking services remain secure following a coordinated global cyberattack targeting organisations across several sectors and continents.
Industry sources said the cyber campaign, described as one of the most sophisticated in recent years, is not unique to Nigeria or the financial sector, with telecommunications, healthcare, government, energy, technology and corporate registry organisations across Europe, Asia, the Americas and Africa also affected.
According to cybersecurity firm Check Point, cyberattacks on the global financial sector increased by 115% last year, with financial institutions facing thousands of attempted intrusions every week.
Reports indicate that the current campaign has been linked to threat actors responsible for attacks on more than 35 organisations across multiple countries and industries.
Despite the attacks, Nigerian banks said their digital platforms and banking services remain fully operational, while customer deposits are safe.
The banks said they activated their incident response procedures immediately after reports of the attacks emerged, working closely with regulators, law enforcement agencies and international cybersecurity partners to investigate the incidents and strengthen security measures.
Industry experts noted that while no organisation is completely immune to cyber threats, the effectiveness of cybersecurity depends on the speed and quality of an institution’s response.
They added that Nigerian banks have invested significantly in cybersecurity infrastructure over the years, enabling them to respond swiftly and in line with regulatory requirements.
The banking industry also urged customers to remain vigilant, warning that cybercriminals often exploit such incidents through phishing emails, fraudulent phone calls and fake text messages.
Customers were advised not to disclose sensitive banking information, including passwords, Personal Identification Numbers (PINs), One-Time Passwords (OTPs), card details or Bank Verification Numbers (BVNs), to anyone claiming to represent a bank.
Banks reiterated that they would never request such confidential information through telephone calls, emails or text messages.
Customers were further advised to avoid opening suspicious emails, clicking unfamiliar links or downloading attachments from unknown sources, and to report any unusual account activity immediately through their bank’s verified customer service channels, official websites, mobile applications or branches.
The banking industry said it remains confident in the resilience of Nigeria’s financial system, assuring the public that financial institutions are continuing to monitor the situation and strengthen their cyber defences to protect customers and maintain uninterrupted banking services.
