A report by the Financial Institutions Training Centre, FITC, has revealed that bank customers in Nigeria lost N472m in 12, 553 fraud cases in the first quarter of 2023.
This report was obtained from the website of the FITC whose 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.
According to FITC, the figure was 85.13 per cent pale compared to the total of N3.18bn was lost to fraudsters across banking platforms in Q4 2022.
The total number of fraud cases reported in Q1, 2023 also declined by 14.07 per cent.
According to the report, fraud occurred mostly through mobile, computer/web, and PoS, which was consistent with the trend from the previous quarter.