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Media Literacy Critical to Protecting Businesses, Consumers From Financial Fraud — Professor Olunifesi Adekunle Suraj

An international expert in media and information literacy, Professor Olunifesi Adekunle Suraj, has called for stronger media literacy and critical-thinking skills among Nigerians, warning that poor information judgment is exposing individuals and businesses to financial fraud, misinformation and costly economic decisions.

Speaking on the occasion of World Literacy Day, Professor Suraj said literacy in the digital age must go beyond the ability to read and write, stressing that citizens must also be able to access, evaluate, verify and responsibly use the vast amount of information available to them.

According to him, access to information alone does not guarantee that people will make informed decisions, particularly as false and misleading content continues to circulate across social media and other digital platforms.

He said individuals must learn to question the source of information, understand the interests behind the information and consider what the person or organisation publishing it may be trying to achieve.

“An informed society is a society where people have the information and knowledge to defend their interests and participate meaningfully in society,” Suraj said, adding that critical thinking enables people to examine information from different perspectives before acting on it.

The professor noted that the consequences of poor information judgment extend beyond social and political issues to the economy, as people can fall victim to fake investment opportunities, fraudulent business offers, phishing attempts and misleading advertisements.

He advised individuals to conduct independent research before making financial commitments, particularly when approached with unsolicited investment or business opportunities.

Suraj also urged people to verify the identity and track record of individuals and organisations behind financial offers, rather than relying on attractive claims, testimonials or social media popularity.

He warned that digital users are also increasingly vulnerable to cyber-related financial crimes because of careless handling of personal information.

According to him, weak passwords, excessive sharing of personal information and failure to use available security features can provide fraudsters with the information needed to compromise email accounts, bank accounts and other digital platforms.

He therefore encouraged individuals and businesses to strengthen their digital security practices, including the use of strong and difficult-to-guess passwords, appropriate security features and greater caution when responding to unsolicited emails and messages.

Suraj further cautioned against accepting information simply because it appears to come from a reputable media organisation or carries a familiar logo.

He explained that misleading headlines, manipulated images, old photographs and videos taken out of context are increasingly being used to make false information appear credible.

He urged members of the public to read beyond headlines, identify the original source of a claim and compare information across credible sources before believing or sharing it.

The media literacy expert also stressed the need for government and other stakeholders to make information literacy a policy priority, particularly within the education system.

He called for greater investment in programmes that teach citizens how to access, analyse, verify and responsibly use information, alongside efforts to strengthen critical-thinking skills.

According to him, media and information literacy should not be treated as an optional skill in today’s economy, as the ability to distinguish reliable information from misinformation can influence financial decisions, business opportunities, civic participation and overall economic wellbeing.

Suraj said building an information-literate population would ultimately help create a more resilient society, where individuals and businesses are better equipped to make sound decisions and protect themselves from increasingly sophisticated forms of misinformation and digital fraud.

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