Nigeria
NIGERIA’S MULTIBILLION-NAIRA BANK FRAUD CRISIS: HOW CYBERCRIMINALS AND INSIDERS ARE TARGETING CUSTOMERS
A 73-year-old retired University of Lagos worker reportedly lost approximately ₦3 million after experiencing problems with her bank's mobile application and later discovering unauthorised withdrawals. Her case has renewed concerns about cybercrime and possible insider involvement in Nigeria's banking sector. CBN and NIBSS figures show that fraud losses reached ₦134.48 billion cumulatively between 2020 and 2025, while major investigations involving SunTrust, Wema Bank, First Bank, Globus Bank and Hope Payment Service Bank illustrate the scale and complexity of attacks against financial institutions.
BigV•2h ago•1 min read