NDIC expresses concern over cybercrime, ponzi schemes

The Nigeria Deposit Insurance Corporation (NDIC) yesterday raised the alarm over increased sophistication of cybercrime and proliferation of Ponzi schemes in the country, noting that the trend was posing a great challenge.

It managing director, Umaru Ibrahim, who stated this at the ongoing 30th Enugu International Trade Fair in the Coal City, also said while the corporation had made efforts to recover deposits of Nigerians in distressed banks, it needed to “acquire requisite knowledge and capacity” to match the growing ugly trend of cybercrime.

Umaru stated that measures had been taken to ensure that those behind the collapse of the former Skye Bank were prosecuted.