Business

Wema Bank suspends engagements on X amid concerns over fraud, impersonation

Published

3 weeks ago

June 7, 2026

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Wema Bank has temporarily blocked communication on its account X, citing the need to protect customers from fraudulent activities and account impersonation.

The lender disclosed the suspension of its engagements on X in a post on Sunday, urging customers to halt interactions with its ‘Wema’ and ‘Alat’ accounts on the platform until further notice. Alat is the lender’s digital banking platform.

Wema Bank noted that its routine checks and security sweeps showed a surge in the rate at which customers are becoming vulnerable to ‘scam accounts’ and fraudsters with fake accounts on X.

“As part of our ongoing efforts to proactively protect your interests and take action against these accounts, we have decided to pause communications on the X platform until further notice,” the financial institution stated.

“Please do not attempt to contact us on X,” it further said.

The bank explained that its efforts to halt communications on X are to prevent its customers from falling prey to fraudulent accounts operating under the guise of Wema Bank on the platform.

The bank directed its customers to contact its official Instagram and Facebook pages, call its contact centre, or email it for verified support and enquiries.

“Please do not engage with or respond to any account claiming to represent us on the platform during this period,” Wema Bank disclosed in the post.

Meanwhile, more than 70 unverified accounts bearing the names “Wema Bank” or ‘ALAT’, the bank’s digital banking platform, have been identified on X, even though they have no affiliation with the financial institution.

The development highlights the increasing incidence of cybersecurity threats in the Nigerian banking industry, which compelled the Central Bank of Nigeria (CBN) to issue lenders a three-week ultimatum in March to complete a mandatory cybersecurity self-assessment as part of a broader push to enhance resilience in the financial system.

According to the CBN, the exercise would boost risk-based monitoring and enhance regulatory oversight of cybersecurity threats in the country’s financial ecosystem.

Related Topics:Bank Concerns engagements Fraud Impersonation suspends Wema

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Business

FG Injects ₦32.8bn into Basic Healthcare Fund

Published

22 hours ago

June 27, 2026

Preport

BY IUR REPORTER—The Federal Government has approved the disbursement of ₦32.8 billion through the Basic Healthcare Provision Fund (BHCPF) implementing gateways as part of efforts to strengthen healthcare delivery and expand access to quality primary healthcare services across Nigeria.

The funding is expected to consolidate recent gains in population health outcomes and disease control while ensuring that more Nigerians, regardless of their location or socio-economic status, have access to essential healthcare services.

The approval was one of the key resolutions reached at the 15th Ministerial Oversight Committee (MOC) meeting on the National Health Sector Renewal Investment Initiative, the Basic Healthcare Provision Fund, the Sector-Wide Approach (SWAp), and Government and Donor-Funded Programmes and Initiatives.

The meeting was co-chaired by the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, and the Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako.

During the meeting, the committee reviewed key performance indicators, financial reports, programme implementation milestones, and emerging priorities requiring policy attention. Members also identified strategic measures to address implementation bottlenecks and agreed on timelines for delivering priority interventions ahead of the next quarterly review.

The committee reaffirmed its commitment to strengthening collaboration among government institutions and development partners to reinforce Nigeria’s health system and accelerate the delivery of impactful healthcare interventions nationwide.

The latest funding injection underscores the Federal Government’s continued efforts to improve healthcare financing, increase access to quality primary healthcare services, and build a more resilient health system capable of meeting the needs of Nigerians.

The post FG Injects ₦32.8bn into Basic Healthcare Fund appeared first on Business Today NG.

Business

NCAA fines Saudi Airlines ₦6 million for alleged violations

Published

1 day ago

June 26, 2026

Preport

Nigerian Civil Aviation Authority NCAA.jpg

The Nigerian Civil Aviation Authority (NCAA) has imposed a ₦6 million fine on Saudi Airlines for what it described as consumer-protection-related violations.

Michael Achimugu, Director of Public Affairs and Consumer Protection at the NCAA, disclosed this on Friday.

Mr Achimugu stated that the sanction became necessary after the airline failed to resolve several outstanding consumer issues, despite repeated interventions by the regulator and an extended period granted for compliance.

According to him, the NCAA had previously stepped in to support the airline in managing a situation at the Nnamdi Azikiwe International Airport in Abuja a few months ago that could have escalated into violence.

He noted that the authority had also given Saudi Airlines additional time to address pending complaints and comply with the regulator’s determinations, but the airline failed to meet its obligations.

“The Nigeria Civil Aviation Authority has sanctioned Saudi Airlines to the tune of ₦6 million for consumer protection-related infractions,” Mr Achimugu said.

He explained that the enforcement action was taken to ensure compliance with Part 19 of the Nigeria Civil Aviation Regulations (Nig. CARs) 2023, which outlines the rights of air passengers and the responsibilities of airlines operating in the country.

The NCAA expressed hope that the sanction would encourage the airline to improve its operations in Nigeria and strengthen its commitment to passenger welfare.

Mr Achimugu emphasised that passengers travelling to and from Nigeria deserve to be treated fairly and with respect by all airlines operating in the country.

READ ALSO: NCAA Championships: Ogazi shatters records, Ajayi strikes gold as Nigerians shine in Eugene

He added that while the authority would continue to support Saudi Airlines and other carriers to operate efficiently, it would not hesitate to enforce regulatory standards where necessary to protect consumers.

Saudi Airlines had yet to respond to the NCAA’s sanctions as of the time of filing this report.