Global Money Week 2026: CBN sounds alarm, advises Nigerians on ways to protect their money

Business, Crime Diary

ABUJA, NIGERIA — (NPA) March 17, 2026 — The Central Bank of Nigeria (CBN) has issued a stern warning to the banking public to safeguard their money by protecting sensitive banking information, as part of activities marking Global Money Week 2026.

The campaign, themed “Smart Money Talks” and running from 16–22 March, seeks to empower children and young people worldwide with financial literacy skills to make informed money decisions.

In a flyer released Tuesday, the apex bank reminded Nigerians that PINs, passwords, and banking details must never be shared with anyone — not even with someone claiming to be from their bank. The advisory urged: “Stay alert. Stay safe. Protect Your Money, Secure Your Future! Your password is your first line of defence across all transaction channels. Make it strong. Change it regularly. Stay protected!”

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The warning comes against the backdrop of staggering fraud losses in Nigeria’s banking industry. In Q1 2025 alone, banks lost ₦3.3 billion to fraudulent activities — a 603% surge compared to ₦468 million in Q1 2024. A total of 12,347 fraud cases were reported between January and March 2025, with computer/web platforms (7,361 cases), mobile transactions (2,875 cases), and POS terminals (1,559 cases) being the most exploited channels.

The CBN’s message is clear and timely, as fraudsters grow bolder, Nigerians must grow smarter with their money.