Oshiomhole’s Call for Stricter Oversight of Fintech Platforms After Cyber Fraud Incident
Adams
Oshiomhole, senator representing Edo North and former governor of Edo State,
has raised alarm over the vulnerabilities in Nigeria’s fast-growing fintech
sector following a personal experience with cyber fraud.
Speaking during a plenary session on a bill to amend the Banks and Other Financial Institutions Act, Oshiomhole revealed that hackers gained access to his account and routed transactions exclusively through OPAY and Moneypoint, bypassing traditional banks entirely.