FRAUD ABORTED AT CENTRAL BANK OF NIGERIA

A massive and highly sophisticated attempt to defraud the Central Bank of Nigeria (CBN) has been uncovered and aborted.
According to the banking Acting director of corporate communications, mr Isaac Okorafor, in a signed press release, the attempt involved a transaction which has been aborted.
He declared: Although preliminary investigations so far have not revealed any accomplices within the CBN, management has decided to place all key personnel involved in the transaction on suspension. This is to ensure a full and unfettered investigation"
Mr Okoroafor assured the public that the bank's security is  intact and has not been breached.
But for long is a key question which begs for answers in view of present day facts.
Fact one: Technology to secure the vault of most if not all financial institutions including the CBN on line is man made and at best always pose challenge to hackers.
Fact two: Introducing the Treasury Single Accounts (TSA) with so much noise and fanfare because politicians wanted to take credit, added to the challenge.
Only few hackers and software gurus who have knowledge of such billions, if not trillions sitting idle and growing by the day will not be tempted to try from any where in the world.
Perhaps, what the CBN could do is redistribute TSA money into very few accounts at its branches or in banks across the country to reduce the temptation and challenge.
In fact it has been known in the past for some experts to compromise security of different institutions, point these out to top executives then get paid to come up with programs to block the weak access points in the breached security system.

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