The Group Managing Director of Union Bank Plc., Mr. Emeka Emuwa, has challenged Internal Auditors in the banking industry to brace up to tackle emerging trends in electronic fraud, which have become a real threat to the survival of the sector.
Addressing members of the Committee of Chief Internal Auditors of Banks in Nigeria (CCIABN) at their 28th Quarterly Meeting hosted by Union Bank in Lagos, Mr. Emuwa acknowledged that 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.
Emuwa, who was represented by Emeka Okonkwo, Executive Director, Corporate and International Banking at Union Bank, said: “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”. He therefore urged the Committee to continue to foster collaboration within the banking sector and enjoined Internal Auditors to constantly upgrade their skills, knowledge and techniques to ensure that the right level of assurance is provided always.
In his own remarks, the Chairman of the Committee of Internal Auditors of Banks in Nigeria, Mr. Joseph Esenwa, commended Union Bank’s steadfast support for the Committees initiatives. He also pledged that the association would continually strive to enhance its visibility and relevance, while strengthening its activities towards greater financial stability in the sector.
Notes to Editors:
About Union Bank of Nigeria Plc
Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc is a household name and one of Nigeria’s long-standing and most respected financial institutions. The Bank is a trusted and recognizable brand, with an extensive network of over 350 branches across Nigeria.
In late 2012, a new Board of Directors and Executive Management team were appointed to Union Bank and in 2013 the Bank embarked upon a Transformation Programme, designed to re-establish it firmly as one of Nigeria’s leading financial institutions.
The Bank currently offers a variety of banking services to both Individual and Corporate clients including Current, Savings and Deposit Account services, Funds Transfer, Foreign Currency Domiciliation, Loans, Overdrafts, Equipment Leasing and Trade Finance. The Bank also offers its customers convenient electronic banking channels and products including Online Banking, Mobile Banking, Bank Cards, ATMs and POS Systems.
More information can be found at www.unionbankng.com.