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Nigeria Electronic Fraud Forum

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The Nigerian Financial sector has shown a steady adoption of the e-payment channels. The parties, as well as all the other players in the financial sector, have been making concerted efforts in ensuring that the financial sector is moving in line with global trends in e-payment development with the view to ensuring efficiency in the system as well as customer satisfaction.

The adoption of the e-payment channels as a preferred channel of payment increases the incidence of electronic fraud. This heightened incidence of fraud therefore brought to the fore the need for the creation of a body (named "the Nigeria Electronic Fraud Forum", "NeFF" which consists of all relevant stakeholders to actively and proactively react to this challenge to safeguard integrity of the e-payment channels.

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Facts : 1/7/1959
Evolution of Departments:At inception, the organisational structure of the CBN was understandably simple consisting of two departments, namely, the General Manager's and the Secretary's Departments, with the appropriate division of labour as then percieved. The General Manager's Department was responsible for all the Department banking, currency issues, debt management and other operational functions of the bank while the Secretary's Department handled the administrative and staff matters, carried out some research into the economic and financial conditions, and collected and analysed relevant statistics for policy formulation.
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