The use of card PINs for online transactions is coming under scrutiny as Charles Ude, an Abuja-based legal practitioner, urges the federal government to consider banning this practice. He supports a proposal by Dr. Kingsley Chibuzor Aguoru, a UK-based Nigerian Chartered Engineer, who believes that eliminating card PINs in digital payments could significantly enhance security and protect consumers from fraud.
Dr. Aguoru currently petitions the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN), advocating for an immediate ban on card PINs for online payments due to security risks.
Supporting this initiative, Ude highlights Aguoru’s extensive background in technology and finance, describing him as a leading voice for a safer financial environment in Nigeria. Ude emphasizes that Aguoru’s concerns should receive serious attention from policymakers.
Aguoru’s push for improved security measures stems from his personal experience with card-not-present (CNP) fraud. He argues that using card PINs for online transactions exposes consumers to significant risks and potential financial fraud. Additionally, he expresses concerns over current practices related to the National Identity Card system, which he believes increase the security burden on customers.
Aguoru’s advocacy focuses on implementing safer transaction methods to protect consumers and enhance the security of Nigeria’s digital financial landscape.
