As the festive season unfolds, Ecobank Nigeria has issued a warning to its customers to remain vigilant against fraudsters exploiting the period’s high volume of financial transactions. This advisory comes amid a surge in fraud cases targeting Nigerian banks, particularly through digital platforms.

Adeola Ogunyemi, Head of Consumer Banking at Ecobank Nigeria, emphasized the bank’s commitment to providing uninterrupted financial services via its robust digital platforms while urging customers to prioritize security in their transactions. Ogunyemi noted that Ecobank’s focus on digital transformation continues to enhance customer satisfaction by offering seamless, alternative banking solutions.

Ecobank, a member of the Ecobank Group the leading pan African banking organization serves millions of customers across Nigeria through over 240 branches and 35,000 Xpress Point agencies. The bank reiterated its dedication to ensuring secure and reliable banking services during the busy Yuletide season.

The advisory follows a recent system maintenance exercise on Ecobank’s card services, which was conducted on November 21-22, 2024, causing minor disruptions. While the bank worked to enhance its systems, it also warned customers to be cautious as fraud incidents have reportedly escalated alongside the increasing use of digital transactions.

Fraudsters are leveraging sophisticated methods, including identity theft, insider cooperation, and cyber fraud, to exploit unsuspecting victims. The rise in digital banking has provided convenience but has also introduced vulnerabilities that require heightened security awareness.

To safeguard against fraud, Ecobank has urged its customers to avoid sharing sensitive information such as PINs, passwords, and card details. Customers are also encouraged to report suspicious activities promptly and to ensure their devices are secured when accessing digital banking platforms.

Ecobank’s proactive warning highlights the importance of vigilance and security, especially during periods like the Yuletide when financial activities peak. As digital transactions grow in popularity, the need for secure banking practices becomes increasingly critical.