The Managing Director, Nigeria Interbank Settlement System (NIBSS),Ade Shonubi, has promised all Nigerians that Succour will come their way following complaints over risk of transacting business online.
Mr. Shonubi who made this promise in Lagos while speaking to journalist, said that NIBSS and banks have approached insurance companies and operators, who accepted to underwrite the risks that come with each financial transaction.
Shonubi also disclosed that four banks and three telecommunication firms have already committed to the project, while a final approval from the Central Bank of Nigeria is expected early next month before the project’s commencement.
While stating that the insurance cover would also include transactions done via mobile money channels, he said with the new system, banking fraud will be drastically reduced and bank customers involved in fraudulent transactions would be blacklisted.
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