SIM swap fraud happens when a criminal convinces or bribes someone to transfer your phone number to a new SIM card that they control. Once they have your number, they can receive the one-time passwords (OTPs) and USSD access that your bank sends to it, reset your banking app and empty your account.
Warning signs
- Your phone suddenly shows “No service” or “SOS only” for no clear reason, while people around you on the same network have signal
- You receive a message that your SIM has been changed or replaced, when you did not request it
- You stop receiving calls and texts
- You get alerts about login attempts or password resets you did not make
If this happens, act immediately. Criminals usually move money within minutes.
What to do straight away
- Call your network provider from another phone and ask them to check whether your SIM has been swapped and to block the new SIM.
- Contact your bank using the number on its official website or the back of your card, and ask it to freeze your account. Many Nigerian banks also have an emergency USSD code to block your account quickly. Find your bank’s code now and save it in another phone.
- Change your banking and email passwords once you have control of your number again.
- Report it to the police and keep a record of all reference numbers.
How to protect yourself
- Keep personal details private. Fraudsters often start with information you shared publicly: your date of birth, mother’s maiden name, NIN or BVN.
- Never share OTPs or PINs, even with someone who says they are from your bank or network. Banks do not ask for these.
- Use app-based security where your bank offers it, such as a hardware or app token, in addition to SMS codes.
- Set a strong PIN on your SIM card in your phone settings, so a stolen phone’s SIM cannot be used in another device.
- Turn on transaction alerts and daily limits in your banking app.
- Protect your email. Use a strong, unique password and turn on two-step verification with an authenticator app, because email is often used to reset bank logins.
- Keep your NIN and SIM linked correctly through your network provider, and never register SIMs for other people.
Other scams to watch for
- Calls or messages asking you to “update” or “unblock” your BVN or account by sending codes
- Fake customer-care accounts on social media
- Messages asking you to dial a USSD code you do not recognise
When in doubt, hang up and call your bank or network yourself using an official number.
