Echotitbits – Nigeria News

Tag: BVN

  • OPay disowns festive ‘cash giveaway’ rumor and urges users to stop sending money to strangers

    OPay disowns festive ‘cash giveaway’ rumor and urges users to stop sending money to strangers

    Photo Credit: The Punch
    2025-12-27 06:00:00

    Reporting by Punch indicates fintech platform OPay issued a public warning against a viral claim suggesting it is distributing money to users during the festive season.

    The company cautioned users not to transfer money to strangers and not to share sensitive personal data such as BVN, PINs, or OTP codes, describing the circulating message as a scam vector.

    Fraud analysts say the season’s spike in “giveaway” narratives is a predictable social‑engineering tactic, and rapid public debunking can reduce victims’ losses.

    Echotitbits take:
    This is a reminder that the weakest link is often human behaviour, not the app. Watch for more coordinated anti‑fraud messaging from banks/fintechs, and push for faster takedowns of scam accounts on social platforms.

    Source: The Punch — December 26, 2025 (https://punchng.com/opay-debunks-viral-cash-giveaway-claim-warns-users-of-scammers/)
    The Punch December 26, 2025

  • NDIC and NIBSS Team Up to Speed Up Depositor Payments After Bank Failures

    NDIC and NIBSS Team Up to Speed Up Depositor Payments After Bank Failures

    2025-12-18 00:00:00

    Punch reports that the Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) have entered a partnership aimed at improving how depositors of failed banks are identified and paid.

    The report says the collaboration targets faster verification and cleaner payment processes, reducing delays that often frustrate depositors after bank liquidations.

    Officials are positioning the move as part of wider financial-system stability efforts, especially as digital identity and payment rails deepen across Nigeria.

    The Guardian reported that the NDIC–NIBSS collaboration is designed to make liquidation payouts more efficient and transparent. (Guardian Nigeria)

    NAN also reported the partnership and said it would strengthen processes for paying insured depositors of failed institutions. (NAN)

    Analysis/Echotitbits take: Faster payouts improve trust in the banking system and reduce panic during stress events. Watch whether NDIC publishes clearer payout timelines, integrates BVN/NIN-linked verification more deeply, and expands outreach so rural depositors can access claims easily.

    Source: Punch — December 18, 2025 (https://punchng.com/ndic-nibss-to-strengthen-failed-banks-depositor-payouts/)

    Photo credit: Daily Post Nigeria