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Is it true that CBN Introduced USSD Code To Block Compromised Bank Accounts? 

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A post has been making the rounds that the Central Bank of Nigeria introduced an Unstructured Supplementary Service Data (USSD) process for bank users to block their accounts when their phone is stolen or notice any form of compromise in deductions. *The claim is PARTLY TRUE … but …*

Here is what we know … 

Research shows that similar Facebook posts and news stories from blogs were first posted in 2021.

When the USSD was also searched on google, it brought out a blog post on one of the new generation bank’s official websites that announced the launch of the code.

 

The post stated that the bank became the first Nigerian Bank to successfully launch its USSD account control code, “*966*911#.”

It said, “this unique code stops unauthorized transactions and protects the account holder’s funds in the event of mobile phone, ATM Card or hardware token loss as well as account details compromise.”

 

Conclusion

 

Though the USSD code that freezes bank accounts when it is compromised does exist, it was launched by one of the commercial Banks and not the CBN.

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African News

WABMA Fake News Debunker Episode 79

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💥 WABMA Fake News Debunker Episode 79

🚩 Is the voice note from the Whatsapp ambassador real?
🚩 Has MTN barred GLO from calling its users?
🚩 Does the picture show Tony Elumelu’s daughter?

Get the facts here👇🏼

🙏 Please check out this week’s edition of WABMA’s Fake News Debunker.

WABMA collaborates with a network of media practitioners to debunk misinformation on social media and news outlets.

🚀 Download more Debunker videos and articles 👇
https://projectfactchecknigeria.org

Pls. share to help curb fake news!

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Breaking News

Does picture show Tony Elumelu’s daughter?

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A picture being circulated on social media claims to be displaying United Bank for Africa, UBA’s Chairman, Tony Elumelu, alongside his daughter who plaited ‘all back’ during a visit to the President of Benin Republic.

The claim is TRUE.

Putting the picture being circulated on Google image, it brought results leading to the verified Facebook and Instagram pages of Tony Elumelu.

Tony Elumelu posted the pictures with the caption “Today in Benin Republic meeting with President Patrice Talon and his lovely wife Claudine Talon also featuring Gogo Lee #BackToWork #TOEWay”

Findings showed that ‘Gogo Lee’ is the nickname of Elumelu’s second daughter Ogochukwu also known as Ogor.


The picture of Elumelu’s visit has since been shared by many citing Gogo Lee as an example of modesty and humble lifestyle despite access to affluence.

CONCLUSION
The Picture showing Tony Elumelu’s daughter wearing a red shirt, black trouser and ‘all back’ hair is TRUE.

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Breaking News

💥 WABMA Fake News Debunker Edition 78

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on

💥 WABMA Fake News Debunker Edition 78

🚩 Does the picture show the oldest and second-largest city in Nigeria?
🚩 Was the Congo Election chairperson beaten for announcing fake results?
🚩 Does America use spy pigeons to watch citizens and threats?

Get the facts here👇🏼

🙏 Please see this week’s edition of WABMA’s Fake News Debunker

WABMA collaborates with a network of media practitioners to debunk misinformation on social media and news outlets.

🚀 Download more Debunker videos and articles 👇
https://projectfactchecknigeria.org

Pls. share to help curb fake news!

Continue Reading

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