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Intricate Secrets Of Banking In Nigeria By:, Douglas Ogbankwa Esq.

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Banking Procedure and Mores sure looks normal,but I tell you there is quite a lot you take for granted in your everyday banking measures that might turn out to be the game-changer ,when the chips are down.Please read till the end .This piece is made up of some deep Revelations.

The Following are some profound Banking Protocols ,to take cognisance of , in your own interest :

1.Read every document carefully before signing same,!Do not be carried away by the nuances of your account officer ,telling you ,”sign here “,” sign here “,and you keep signing ,you may well be signing away your fortune .

2.Do not be secretive with your bank account details and your transactions from your family members ,many bank accounts worth billions of Naira are abandoned ,because their deceased owners kept the details away from their loved ones .They could get lost to some fraudulent Bank Officials ,who take them little by little.Giving them access to your ATM PIN , will enable them access cash easily if there was an emergence and the account owner is incapacitated. A Man died with hundreds of millions in his account, when he needed money to be flown abroad ,owing to an ailment and his family could not access same because he was incapacitated! The Customary Court approached by his family refused to grant an Order granting access to the Account stating that , that can only be done ,if he was dead and the money was only accessed after he died !

3.Never assist any one on the queue to collect money from the ATM ,he may just be a fraud that needed a pawn to pick money for him or her .

4.,Never give some one your ATM Card to withdraw money for you except you know the person so well, he or she may use your ATM 14 Digits to configure a mobile money App and steal your money .Some of these thieves on the queue are so smart that can memorize your ATM’s 14 Digits in seconds .

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5.If you lived abroad subscribe only to the email credit and debit alert system,because if you subscribed to the SMS Alert and your phone in Nigeria is not active for six months ,the line will be deactivated and resold to another subscriber who will be getting alert and then he can use the phone to configure USDD to steal your money.I came across a true life scenario ,where a woman abroad came home to find that all the 6 Million Naira in his account was gone .His alert receiving phone line was deactivated by the Mobile Network after it didn’t work resold to a person in Lagos ,who.used it to configure a USSD platform ,which used to withdraw all her money.When leaving the Country for long , deactivate your Alert firb SMS and stick online to emails.You can download.your email on your phone ,you will still get an alert on your email like sms.

6.,When you have an unresolved issue with the Bank ,before you submit any of the stamped Complaint Forms ,make a photocopy, because that is the only evidence you have to show that you have made a formal Complaint.This will help you slot incase the matter gets to Court .

7.Analyse your Statement of Account with a Forensic Auditor ,if you have a huge volume of transaction and perhaps , you will find some obnoxious and sometimes fraudulent charges ,that will shock you.

8.Never have an affair with your account officer ,banking relationship is fiduciary ,it will make you vulnerable to be defrauded and this case of romantic fraud is always huge .Never you leave your old mother or father to deal with account officers alone ,they can hoodwink them to defraud them in the guise of doing fixed deposits and /or investments.

9.Do not use ATM at Remote places at night ,you could be attacked ,robbed ,kidnapped or even killed .

10.,Avoid using Another Bank’s ATM ,Dispense Errors and Machine Confiscated ATM Issues are difficult to resolve with them . Reversals are immediate ,if it was your Bank .

11.To avoid unnecessary charges sign up to Email Statements of Accounts .It also.allow you to automatically save your statement.

12.Don’t give your account to anyone,no matter how close to receiving money ,you could end up in deep shit , if it was fraud related .Fraud Matters can actually be very tough matters,it depends on who the Complainant is .

13.Do not give someone on the ATM Queue your account Number,for him to transfer to you,to withdraw for him or her,it could land you in trouble. Random acts with strangers can land you stranger troubles.

14.Do disclose your BVN or Account Details to strange callers on the Phone ,they are likely to be fraudsters .Do not send your account number to strangers and do not listen to people telling you , that you have an error in your banking platform.

15.Delete your credit and debit alerts from your phone ,for safety reasons.Alwys place a lock on your phone , because some girls you trust can use an opt code to transfer money from your account to their account and delete the alert.You will wake up and see that money has left your account , but you will be confused on how it left . Immediately call for your Statement .

16.Do not sign recommendations as Guarantors for current account holders you don’t know so well ,you may land in Police or EFCC Trouble !

17.Do not carry huge cash to and from the Bank , it endangers your life.!Many have died there from .Again doing huge cash payments running into.milliins of naira with out passing through a financial institution is a crime under the Anti Money Laundering Act.Every Company is also expected to do a SCUML clearance with the EFCC to allow the Federal Government track money laundering.It is a crime not to do so .

18.Do not Guarantee Loan Transactions for persons you can not vouch for , you could be in for a protracted legal battle.

19.Be aware that there are penalties for some infractions of the Bank against you ,for example ,for an unresolved ATM Dispute within the stipulated time, you are entitled to Ten Thousand Naira Compensation ,there are CBN issued Guidelines providing for such !Google CBN Customer Complaint Platform for more details on the Matter.

20.Be careful how you give your ATM to third parties for transactions.If you can not vounch for the Integrity of a person never give him or her your ATM to make Withdrawals or transactions for you .

21.Never leave your ATM with POS Operators alone ,they could snap it and sell off your information to Fraudsters or even use them to defraud you .

22.Do not allow people to view your ATM Card for a long time .Some persons have photographic brains ,they could memorize your details and use them to make some transactions or sell them off to Fraudsters .In this regard ,be careful how you deal with strangers even on the ATM Queue.Not every one on the ATM Queue is there to make a legitimate withdrawal.

23 .Be careful how some people pretend they know and become unnecessarily familiar with you ,in and around the Bank you could be hypnotized and when your eyes get cleared all your money will have been cleared also .Do not respond to unsolicited familiarity ,in and around the bank .Be careful how you respond to people asking you for biro or pen in the Banking Hall.It could be the origin of your hypnosis to take away all your money in your account.

24.If you carried a huge amount ,do not enter public transport make a private arrangement to and from the Bank or any where for that Matter.Do not be a case of penny wise ,pounds foolish.

25.Not every one in the Banking Hall is a customer .Some are there to provide intelligence to armed robbers outside .When you carry a huge sum of money out of the bank ,try and disguise and do a decoy , in a way that leaves people confused.You could give the money to some one in the Banking Hall ,go some where else and pick the money from the person and change the bag or polythene and even go to the toilet and change the colour of your shirt and even wear a few cap and googles.

26.Do not succumb to unnecessary pressure to make a transfer to a person .Only make a transfer when you are psychological and emotional stable else you will end you transferring the money to unknown person and you will bear the brunt .You will have to go Court to get your money back .

27.When you use the bank transfer platform and it shows an error ,once the recipient account has shown and you have imputed your
pin, do not repeat the transfer ,except you are sure it did not go through.

28.Be careful how you use the ATM ,when it shows error system ,it could have been reprogrammed by fraud sters to take your money.

29.Do not respond to unsolicited phone calls from any one Whosoever , asking for your Bank Details or BVN Number.Your Bank Details are Security Details that could even compromise your safety and security as all your personal details are tied to your Bank Details.Also,be careful how you throw about your account details on the Internet, as you could be a victim of your actions.

Nigerians are very smart ,you have to be smarter ,or they will smash your money.Shine your eyes.Be Careful and Circumspect.Good luck !

About the Author:
Douglas Ogbankwa Esq., @ [email protected] , is a Benin Based Lawyer ,who is the President of the Benin Writers’ Society and the Convener of the Social Justice Situation Room.

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