Scam Alert: Police Warn Against Lending Your Bank Account or SIM

“Abeg, can I use your account to receive some money? I’ll send you something small for your trouble.” It sounds like a harmless favour between friends, or an easy way to earn extra cash. But Nigeria’s police leadership has just made it clear that it can also make you part of a fraud investigation.

Speaking in Abuja on 15 October 2026 at the 2026 Cybersecurity Awareness Campaign of the Nigeria Police Force National Cybercrime Centre (NPF-NCCC), Inspector-General of Police Olatunji Disu warned that account holders who allow others to receive money through their accounts may be investigated if those accounts are tied to fraud. The campaign’s theme was “Towards a Resilient Cyberspace: Think Before You Click.”

What the police said

According to reports by Vanguard and Blueprint, the IGP listed online activities that can attract prosecution under Nigeria’s Cybercrimes (Prohibition, Prevention, etc.) Act. They include:

• Letting others use your bank account or SIM card to receive money when you do not know the source or purpose of the funds.
• Dealing in fake payment alerts or receipts, or trading in other people’s BVNs, NINs or card details.
• Gaining unauthorised access to someone else’s phone, WhatsApp, email or social media account.
• Creating fake accounts using another person’s name or photo.
• Cyberbullying, spreading false information that could cause panic, and sharing private images without consent.

He stressed that ignorance of the law is no excuse, and that penalties include imprisonment and heavy fines. The Director of the National Cybercrime Centre, AIG Akaninyene Ezima, also urged young people to reject quick-money schemes and online criminal recruitment, and warned that criminals are increasingly using AI for deepfakes, synthetic identities and impersonation.

How money mule recruitment works

Fraudsters who steal money need somewhere to send it that cannot be traced back to them. So they recruit “money mules”: ordinary people whose accounts or SIM cards are used to receive and move stolen funds. The approach usually looks innocent:

• The friendly favour: a friend, neighbour or online contact says their own account is “restricted” and asks to use yours for a payment.
• The fake job: an online “payment processing agent” or “remote finance assistant” role that pays commission for receiving transfers and forwarding them.
• Account or SIM rental: offers of cash to open a new bank account, wallet or SIM registered in your name and hand it over.
• The romance or investment link: someone you met online asks you to receive money for them and send it on, sometimes in crypto.

When the stolen money is traced, it leads to your name, your BVN and your SIM registration, not the fraudster’s. Victims of the original scam see your account as the one that took their money. Your bank may freeze your account, and you may have to explain yourself to investigators.

Insider risks at banks and fintechs

The police also turned their attention to the institutions themselves. The IGP urged banks, fintechs and telecom operators to guard against insider threats, including compromised staff and misuse of privileged access, by screening employees, restricting access to sensitive systems, monitoring transactions and running regular audits. He said the warning was not a judgement on employees’ integrity. A representative of the Nigeria Data Protection Commission (NDPC) added that the Commission is working with law enforcement under the Nigeria Data Protection Act, 2023, to tackle the misuse of personal data. The IGP also warned digital lenders against using customers’ personal data to harass or blackmail borrowers.

How to protect yourself

1. Never lend your account. Do not let anyone, including friends and relatives, receive money through your bank account, wallet or POS terminal if you do not know exactly where it came from.
2. Never hand over a SIM. A SIM registered with your NIN is linked to you. Do not sell, rent or give one to someone else.
3. Reject “receive and forward” jobs. No legitimate employer asks you to receive money in your personal account and send it on.
4. Guard your identifiers. Keep your BVN, NIN, card details, PINs and one-time passwords private. Banks will not ask for your PIN or OTP.
5. Check your statements. Review your account regularly and report any transfer you do not recognise to your bank immediately.
6. Talk to young people. Students and job seekers are prime targets for mule recruitment. Explain the risks plainly.

If you have already been used

Stop all transfers immediately, do not forward any more money, and contact your bank. Keep records of messages and transactions and report the matter to the police. Coming forward early is far better than being discovered later.

What you should do

• Say no to any request to use your account, wallet, POS or SIM for someone else’s money.
• Businesses: limit staff access to customer data and payment systems to what each role needs, and review access regularly.
• Report recruitment attempts and fraud to your bank and the police.
• Share this warning with family members, staff and students who may not know the risks.

Your account is tied to your identity. Protect it like you would your name.

Sources

• Cybercrime: IGP warns Nigerians against seven online offences – Vanguard
• Police, NDPC warn banks, fintechs against insider cybercrime risks – Blueprint

Featured image: Photo: “Sadness – 2011-04-20” by 4nitsirk, CC BY-SA 2.0, via Openverse — source