June 6, 2026
…Nigeria experiences over 4,000 cyber attack attempts weekly
…PoS operators trapped between customers and platforms
From failed transfers and fake debit alerts to identity theft and social engineering scams, ordinary Nigerians increasingly find themselves trapped between banks, fintech companies, telecom providers and switching platforms, each shifting responsibility whenever transactions fail, writes Juliet Umeh.
ON a humid afternoon in Lagos, media practitioner, Louisa Olaniyi, walked into a neighbourhood shop to buy a keg of vegetable oil from a woman she trusted. Like millions of Nigerians embracing the country’s rapidly expanding cashless economy, she paid through a bank transfer.
