NCC: Network infrastructure fraud impacts PoS devices and financial operations
The vandalism of telecommunications infrastructure, according to the Nigerian Communications Commission (NCC), will have an impact on Point of Sale (PoS) transactions.
Network providers have reported that their infrastructure is being vandalized, according to the NCC’s Executive Vice Chairman, Umar Dambatta, who made this claim on Thursday. This might have a variety of negative impacts on Nigerians.
The “Youth, Civil Society, and Stakeholder Summit on Curbing the Destruction and Vandalism of Telecom and Other Critical National Infrastructure in Nigeria During the Elections” is where he made this statement.
According to Dambatta, the national telecom infrastructure could have an impact on both the use of PoS machines and banking operations.
His warning comes at a time the Central Bank of Nigeria (CBN) is urging Nigerians to adopt digital payment methods and reduce their dependence on cash.
Remember that the Naira redesign strategy was implemented by the CBN to increase the use of electronic payment channels, one of which is the PoS payment method. Nigerians switched from the old Naira to the new currency as a result of the strategy, which led to the redesign of the N200, N500, and N1,000 banknotes.
According to the NCC vice chairman, “Some of the impacts are as follows: Disruption of network services and disconnecting of digital platforms, congestion of alternative backup routes/networks, interruption of social and economic activities, loss of revenue, cascading effects on other networks and network elements, and a delay in network recovery.
The national telecom infrastructure is necessary for the upcoming elections, national activities and programs, communication with friends and family, and executing banking transactions, particularly when using point of sale (PoS) machines.
“We all need to protect and maintain this infrastructure because, in the event of a disruption, it will have a significant impact on many elements of our everyday lives and activities.”
