CBN Issues New Update On Nigerian Customers’ PINs, Passwords

Central Bank of Nigeria has cautioned banking customers across the country to strictly protect their financial information and avoid sharing sensitive banking details such as Personal Identification Numbers (PINs) and passwords with anyone.

According to Ireporter Online, the advisory was issued in a message published on the bank’s official page on X as part of activities commemorating Global Money Week 2026.

The apex bank noted that the warning became necessary amid the increasing rate of fraud and scam attempts targeting unsuspecting bank customers. It urged Nigerians to remain cautious and ensure that their banking information is kept strictly confidential at all times.

In the message, the bank stressed that customers should not reveal their sensitive financial details to anyone, including individuals who claim to be representatives of financial institutions. It emphasized that protecting personal financial data remains one of the most effective steps individuals can take to guard against financial fraud.

“Protect your money by protecting your information. As we mark Global Money Week 2026, remember: your PINs, passwords, and banking details should never be shared with anyone, not even someone claiming to be from your bank. Stay alert. Stay safe,” the apex bank stated in the advisory.

The warning comes at a time when fraudsters increasingly impersonate bank officials in an attempt to deceive customers into revealing confidential financial details. These criminals often approach victims through phone calls, text messages, emails, or social media platforms while posing as staff of financial institutions.

Once such sensitive information is disclosed, the fraudsters are able to gain unauthorized access to victims’ bank accounts and carry out fraudulent transactions.

Financial analysts have repeatedly highlighted that fraud schemes are becoming more sophisticated, making public awareness and vigilance essential tools in the fight against financial crime.

Global Money Week is an annual global initiative focused on promoting financial education, responsible money management and consumer protection. The campaign is marked in many countries, including Nigeria, through various awareness programmes designed to educate individuals, particularly young people, about safe financial practices.

Organisers say the initiative also aims to equip people with the knowledge and skills needed to make informed financial decisions while protecting themselves from fraud and financial exploitation.