Lawmaker Wants Stiffer Penalties for IT-Related Financial Crimes. What About Government-Related Ones?

Honourable Victor Ochei

The Speaker of Delta State House of Assembly, Honourable Victor Ochei has charged the National Assembly to enact the legislation that will spell out stiffer penalties for financial crimes related information technology abuse.

The Delta State Speaker made this known while delivering a paper on the policy of the Central Bank of Nigeria (CBN) of Cashless Economy and the Banking Sector at the CBN-Delta State Bankers’ Clearing House Award Ceremony held in Asaba.

Honourable Ochei said, “due to the problem of financial fraud aided by information technology, it will be desirable, if Nigerian banks can invest in information technology and human capital to meet the challenges of the evolving world.”

According to him, as alluring as the policy of a cashless economy appeared in principle, there was a critical need for the efficient infrastructure that would ensure its effective take-off and sustainable operation. Citing the poor presence of banking service in the rural areas and the under-banking of the Nigeria population as part of the challenges of the policy, Ochei said there was an imperative to create greater banking awareness among the people by effective public enlightenment and the deliberate spread of the bank branches across the country.



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