By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Emeka Emuwa, group managing director of Union Bank of Nigeria Plc (UBN) has called on internal auditors in the banking industry to brace up and tackle emerging trends in electronic fraud, which have become a real threat to the survival of the sector, a statement from the lender said on Friday.
Emuwa, represented by Emeka Okonkwo, executive director, corporate and international banking of Nigeria’s Union Bank said this while addressing members of the Committee of Chief Internal Auditors of Banks in Nigeria (CCIABN) at their 28th quarterly meeting hosted by the bank in Lagos.
‘’E-fraud was not just a Nigerian problem but a global challenge. As such it required an “all hands on deck” approach to proffering proactive strategies, realigning processes and developing realistic action plans to curtail the menace,’’ he said.
He affirmed that while winning the war against cybercrime seems like a daunting task, it is not an impossible one and would require key stakeholders to effectively work together to surmount the challenge. ‘’I urge the Committee to continue to foster collaboration within the banking sector and Internal Auditors are to constantly upgrade their skills, knowledge and techniques to ensure that the right level of assurance is provided always,’’ Okonokwo said.
On his part, Joseph Esenwa, chairman of CCIABN, commended the lender’s steadfast support for the Committees initiatives. ‘’I pledged that the association would continually strive to enhance its visibility and relevance, while strengthening its activities towards greater financial stability in the sector,’’ Esenwa said.
