 Good evening and welcome. We're coming to you from day two of the Fiji Symposium in Bangalore, the platform for all talks on financial inclusion. And with me is the Executive Director of Business Development for Nigeria Interbank Settlement System. Welcome Mr. Nia Jow. Thank you very much. And how does it feel to be part of the first Fiji Symposium? Yeah, I feel honored. I'm so happy to be part of this. Having worked with the focus group these last two years and being part of this for me makes the journey really more and more exciting because from the work done at the focus group level as we keep making reference to my country to the policy recommendations that came as the conclusion of the work there. So I'm really looking forward to gaining more insights even in the Fiji initiative. Thank you. So can you tell us a little more about the potential of digital financial services to increase financial inclusion? Yes. I think there's no gain saying that fact. Yes, the potential is very, very huge. And if I'm to talk about Nigeria, my country, for instance, we have what I call the Bivian kind of ID for the banking for the bank for bank customers. We have about 31 million people now. Now 31 million out of about 100 million adult Nigerians. So the potential bank customers that we show up is about 100 million. We have just about 31 million people. So we see a challenge of 70 million guys out there who are living their lives, who generally are spending cash. So we see DFS as a very, very, very convenient and workable tool that we can use to get these 70 million people into the financial system. So for us really DFS is very, very important. And that's why even in this at Fiji here you find a number of Nigerians from the bank, from the telecom industry, everybody looking out. Even the government is interested in, okay, how do we bring these people in because there's so much benefit in DFS. And when it comes down to the aspect of security, how is Nigeria actually addressing the security for digital financial services and the implementation of the Bivian? Okay, DFS is growing gradually in Nigeria. And as you expect, as it grows, fraud is growing with it. We're battling today with problems of sim swap, for instance. I mean someone, I can just go once, if I'm close to you, I know your phone number. I can go to your telco, while you're here busy. I go to your telco and tell them that I'm the owner of that phone. And then I take over your phone, the number. Take over the number. And with that, I go to your bank and pretend that I'm yourself. And then change, get a new pin for your account, and then begin to spend your money. It's happening seriously. We have the, we have recycled sim problems where, you know, for your telcos, when the sim is not active for about two to three months, they deactivate and reallocate to someone else. So when it's reallocated, now some guys have phone numbers attached to their accounts. The phone gets lost. Instead of going to reactivate and get a new sim on that number, they go just get another number, you know. Meanwhile, that number, they've thrown away, gets into somebody's cell to stand along the line because, I mean, the telcos say, hey, this line has not worked for three months. They give it to somebody else. So the, a lot, normally a lot of the account details, account balance, will keep going to this new guy. So some guy does receive that, and then they find a way to just go to impersonate and begin to spend this person's money from his account. We're having all those, and then we're having phone phishing, where someone immediately receives an SMS now that says, hey, I work with your bank, I'll mention your bank there, and that your account is about to get obsolete, to get inactive. Oh, just call this number so we can, you can clean up your account for you. And so we put forth for that kind of SMS. So you call that number, and then they tell you, oh, to clean the account now, to clean it, we'll just give us your PIN, or give us your card number. And then people release that, and then guys go out and take people's money. We're having all that happening. But luckily for us in Nigeria, we have a lot of collaboration between the banking system and the telecom group, and even among the banks, and the central banks, so we're able to work together to sit down, look at these problems, and we are dealing with them one by one. For instance, we have an implementation going on right now, to tackle SIMSWAP and recalculate SIM. We're looking at a scenario where the telcos have all agreed with us, we're doing some trial right now, where for every GFS transaction that comes over the phone, we make a call out to the telco to say, hey, this phone number is about to do this transaction. Please check for me. Let me know if the SIMSWAP has been swapped, or the cycle within the last 48 hours. If it is, I don't allow the transaction to happen. So we're actually working on that now. And talking about phone phishing, we're coming up with a system where we watch lists on phone numbers. So within the banking system, we have a list of phone numbers that have been caught along the line with this phone phishing. Normally when you have a phone phishing case, you have the phone number of the guy of the sender. And I have the phone number I'm asked to call. So I have two numbers. So I can work with those two numbers in a database. And once I put in my watch list, all banks have access to it. So whenever anybody comes to say, hey, I want to open an account and I put any number in that database, already there's a red flag. So the man can take a decision whether or not to open an account or open with a very cautious kind of open and very, very cautious manner. So we have these problems and GFS will have some problems normally. But for me, the challenge of players, of players in the market is to ensure that we understand the risks and we put countermeasures in place to mitigate the risks. And a lot of that is happening in Nigeria. I hope you can do that. Thank you so much.