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Nigeria Inter-Bank Settlement System

Nigeria Financial Sector: Fraud Surges By 496% in Five years – NIBSS

NIGERIA’s financial sector fraud surged by 496.96 per cent from 2019 to 2023 amid the rise of electronic payment. Nigeria Inter-Bank Settlement System disclosed this in its recent ‘Annual Fraud Landscape’ report. The report said Nigeria’s Bank customers lost N59.33…

Top Eight Countries Where Nigerian Bank Customers Fell Victim To Fraud In 2023

THE 2023 Annual Fraud Landscape report by the Nigeria Inter-Bank Settlement System (NIBSS) revealed an alarming trend of international fraud targeting customers of Nigerian banks. Over the past half-decade, Nigeria’s financial sphere has witnessed a notable uptick in fraudulent activities, closely…