Home Tech News ‘Our online transactions are in Naira’, Zenith Bank alerts amid cyber threats

‘Our online transactions are in Naira’, Zenith Bank alerts amid cyber threats

‘Our online transactions are in Naira’, Zenith Bank alerts amid cyber threats

Zenith Bank has alerted its customers that all the bank’s transactions on its online platform are done in the Nigerian legal tender, Naira.

Zenith Bank warns that customers should ignore any email from Internet fraudsters purporting to be Zenith Bank staff who have been sending scam emails to the public telling them about huge U.S. Dollar deposits in their accounts.

“Be informed that our transactions on the Internet are all in Nigerian legal tender i.e. Naira and not in other foreign currencies, such as Pounds Sterling, Dollars, etc. Please note that we do not initiate and/or conclude our banking transactions on the web”, the bank says.

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Zenith Bank also reveals that it has uncovered several fictitious websites of some unscrupulous persons sending emails, letters and telephone calls to unsuspecting members of the public by impersonating Directors or staff of the bank and claiming to have access to huge U.S. dollar deposits in the bank held in the names of deceased persons, and huge US Dollar contract sums due for payment.

Consequently, the bank expressly dissociates itself from any transaction entered into on the strength of such scam mails/correspondence or any other representation made via any of the fictitious websites/e-mail addresses.

In response to this, the bank has a “Scam Alert” link on its website alerting the public about this, stating that it will not be liable for any loss incurred by any person who deals with the imposters contrary to its advice.

While Internet Banking is a more convenient way to ease banking easier, there is need to bank safely online, experts warn.

Zenith Bank says it has come up with a number of ways to bank safe, as it has implemented advanced security measures on its website that employs 128-bit encryption, a high level of protection for financial transactions.

One of such measures can be recognized at the address bar of the bank’s website, which begins with ‘https’. This encryption technology ensures that data passing between your computer and the bank is secure and that your accounts cannot be accessed by anyone else online, the Nigerian bank says.

The log in process of the bank’s site also requires the use of a unique customer access code, username and password to provide another layer of security.

Online certificates are issued by trusted third party companies (e.g. Entrust) and let users know that a site is genuine and secure. On the bank’s Internet Banking, this is indicated by the padlock symbol at the bottom of your browser screen.

In addition to using encryption, the bank also has firewall protection software and devices that are used to prevent unauthorized access to its systems.

Zenith Bank further highlights some key points that can help customers protect their online banking transactions:

  • Never respond to an email that asks for your login or personal security details.
  • Keep your customer access code, username and password confidential.
  • Log off your account when leaving your computer. Just click log off at the top of the page when you are finished with your Internet Banking session. As the bank stated, it has also tried to help in this regard by setting its Internet Banking service to automatically log you out after minutes of inactivity.
  • Report any unauthorized activity immediately. Be sure to review your account activity or
    transaction history and report to the bank if there is any irregularity.


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Success Kafoi Journalist at Technology Times Media. Mobile: 08077671673 email: success.kafoi@technologytimes.ng

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