Access Bank has launched a financial crime awareness campaign, 'Spot the Scam', aimed at educating Nigerian students on identifying scams, avoiding financial crimes, and responding to suspicious requests. The initiative seeks to equip young people with the knowledge to recognize manipulation and develop safe digital and financial habits. With the increasing use of smartphones, social media, and online platforms among young people, the bank aims to address the growing concern of financial crimes targeting this demographic.
The campaign, which will run until December 2026, comprises nationwide financial crime education for students and a debate competition for public and private secondary schools in Lagos State. The bank's Chief Conduct and Compliance Officer, Solomon Abiakalam, stated that the initiative was driven by concerns over the increasing involvement of young Nigerians in financial crimes. He cited a recent example where the Economic and Financial Crimes Commission arrested 792 young people in Victoria Island on December 10, 2024, for allegedly being involved in romance scams, hacking, and money laundering.
Abiakalam emphasized that Access Bank has controls in place to prevent illicit funds from moving through its systems. However, the bank is also taking proactive measures to combat money laundering, terrorist financing, and proliferation financing through education. The objective is to help young people understand financial crimes and avoid becoming victims or perpetrators. By educating students, the bank aims to reduce the risk of financial crimes and promote a safer financial environment.
The Head of Regulatory and Financial Crime Compliance at Access Bank, Inyang Etim, stressed that preventing financial crimes requires a collaborative effort from schools, parents, banks, telecommunications companies, and government. Etim's statement highlights the importance of a multi-stakeholder approach in addressing the complex issue of financial crimes. By working together, these stakeholders can help create a safer and more informed community.
Abiodun Olubitan, Head of SME Banking at Access Bank, warned that fraudsters often lure children through online games, small rewards, recharge cards, and fake celebrity profiles. She advised students to be cautious and verify information whenever they receive a message that makes them excited, frightened, or pressured to act immediately. Olubitan's advice emphasizes the need for students to be vigilant and critically evaluate information they receive online.
The debate competition, which is open to public and private secondary schools in Lagos, requires participating schools to submit entry videos by September 30, 2026. This competition provides an opportunity for students to engage in discussions about financial crimes and showcase their knowledge and critical thinking skills. By encouraging students to participate in the debate, the bank aims to promote a deeper understanding of financial crimes and their implications.
The 'Spot the Scam' campaign is a timely initiative that addresses a critical concern in Nigeria. By educating students about financial crimes and promoting safe digital habits, Access Bank is taking a proactive approach to preventing financial crimes. The campaign's success will depend on the collaboration of various stakeholders, including schools, parents, and government agencies.
Key points
- Access Bank launches 'Spot the Scam' campaign to educate Nigerian students on financial crimes and promote safe digital habits.
- The campaign comprises nationwide financial crime education and a debate competition for secondary schools in Lagos State.
- The initiative aims to equip young people with knowledge to recognize manipulation and avoid becoming victims or perpetrators of financial crimes.
