Nigerian bank workers’ involvement in fraud is on the rise, report shows

Nigerian bank workers’ involvement in fraud is on the rise, report shows

SAMSON AKINTARO FROM NAIRAMETRICS

More bank workers in Nigeria are taking advantage of their access to defraud customers, a report by FITC has established.

The report, which gave insights into fraudulent activities in Nigerian banks between April and June 2022, revealed that 19 employees of banks were sacked within the period due to their involvement in fraudulent activities.

The number of bank workers (19) who were sacked in Q2 2022 due to fraud represents a 90% increase compared to 10 recorded in Q1 2022, according to FITC.

A comparison of the data with the same quarter in 2021 showed an alarming 375% increase, as only 4 dismissals for fraud were recorded in Q2 2021.

With a total of N1.17 billion lost to frauds across 24 banks in Nigeria in the second quarter of 2022, 73 bank staff were reported to have been involved in the activities, a 27.6% increase when compared with 60 recorded in the first quarter of the year.

Report

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