Reps flag-off probe of SIM swap fraud Monday

The proposed investigation into increasing incidents of SIM Swap fraud initiated by the House of Representatives is expected to commence on Monday, 25th November 2019.

Speaker of the House of Representatives, Hon. Femi Gbajabiamila is expected to deliver the keynote address at the 3-day investigative hearing at the National Assembly complex, Abuja.

Recall that the House via a resolution passed on Thursday, 26th September 2019, constituted the above Ad-hoc Committee to investigate the SIM Swap fraud.

Recent data released by Enhancing Financial Innovation and Access had revealed that over 150 million Nigerians were included in the financial system.

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Some of the stakeholders invited by the Ad-hoc Committee are Central Bank of Nigeria (CBN), Bankers Committee, Nigeria Deposit Insurance Corporation (NDIC), Nigerian Communications Commission (NCC), Economic and Financial Crimes Commission (EFCC), Office of the National Security Adviser (ONSA),

Directorate of Military Intelligence (DMI), Independent Corrupt Practices and other related offences Commission (ICPC), Nigeria Police, Department of State Service (DSS), Nigeria Security & Civil Defence Corps (NSCDC) and the Consumer Protection Commission (CPC).

Other telecom operators invited to the 3-day investigative hearing include Globacom limited, MTN, Airtel, 9 Mobile.

In the same vein, representatives of all the Money Deposit Banks are also expected to make a presentation that will aid the proposed investigation initiated by the Ad-hoc Committee.

They are: First Bank Nigeria Plc, Access Bank, Union Bank Plc, Sterling Bank, Eco Bank Nigeria Plc, Polaris Bank, Guaranty Trust Bank, First City Monument Bank, Zenith Bank, Fidelity Bank, Citibank, Heritage Bank, Keystone Bank, Polaris Bank, Stanbic IBTC Bank, Standard Chartered Bank Sun Trust Bank, United Bank for Africa, Wema Bank, Unity Bank.

The Ad-hoc Committee also invited Communication based ICT experts to give insight into the operations and activities of fraudsters.

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