PUNCH
At least 110 top bank executives and junior staff members have been sacked for fraud-related cases in the past two years, findings by The PUNCH have shown.
These were contained in the ‘Reports of Fraud and Forgeries in Nigerian Banks’’ released by the Financial Institutions Training Centre between the second quarter of 2021 and Q2 2023.
FITC’s institutional members are members of the Nigerian Banker’s Committee, which comprises the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation, and all licensed banks in Nigeria.
A breakdown showed that while only four bank officials were sacked in Q2 2021, the figure rose by 175 per cent to 11 in Q2 2023.
The highest number of sacked top bank executives and junior staff members was recorded in Q3 2022. Twenty officials were fired.
The PUNCH observed that between Q2 2021 and Q2 2022, 52 bank staff members were sacked for fraud-related issues.
However, between Q3 2022 and Q2 2023, 58 bank staff members were sacked for the same reason.
Also, within the period under review, the sacked staff members were involved in a total of 967 fraud cases.
The highest number of cases was recorded in Q4 2021, with 410 cases involving bank staff, while the lowest was recorded in Q3 2021, with 32 cases.
The PUNCH further observed that between Q2 2021 and Q2 2022, bank staff were involved in 657 cases, while between Q3 2022 and Q2 2023, they were involved in 310 cases.
Also, about N18.01bn was lost due to fraud committed by bank staff and outsiders within the reviewed period out of a total of N81.69bn involved in fraud cases.
The PUNCH learnt that the highest amount lost was N5.79bn in Q2 2023, while the lowest amount lost was N472.28m in Q1 2023.
For the total amount involved, the highest amount was N34.78bn in Q3 2021, while the lowest amount was N1.18bn in Q2 2022.
The PUNCH further observed that mobile fraud, computer/web fraud, and P0S-related fraud were the most prevalent types of fraud, and this trend persisted in Q2 2023.
In June 2022, the PUNCH reported the continued trial of three former workers with the First Bank of Nigeria facing attempted fraud charges before a Lagos State Special Offences Court, Ikeja.
The defendants, Ozioma Ugorji, 35; Ugwu Emeka, 32; and Obike Chukwuka, 38, were arraigned by the Economic and Financial Crime Commission for allegedly attempting to steal N20bn from the bank.
The PUNCH learnt that the defendants conspired to tap into the bank’s server to grant access to a syndicate.
They were, however, apprehended by the EFCC on March 6, 2021, following an intelligence report.
