CBN: Nigerian Banks Lost N12bn To Armed Robbers, Fraud In 6 Months

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Nigeria Will Be Out Of Recession By Third Quarter – CBN Governor

CBN: Nigerian Banks Lost N12bn To Armed Robbers, Fraud In 6 Months

Figures obtained by the Central Bank of Nigeria (CBN), indicate that the losses recorded by banks in the country from armed robbery cases and criminal activities perpetrated by members of staff and non-staff members of lending institutions have risen to N12bn in six months.

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The Punch quoted the apex bank as saying that the attempted fraud and forgery cases, which were, however, not successful, stood at a figure of N7.99bn between January and June 2018.

It said, “There were 20,768 reported cases of fraud and forgery (attempted and successful), valued at N19.77bn in the review period, compared with 16,762 cases, involving N5.52bn and $ 0.12m in the corresponding period of 2017.

“The actual loss by banks to fraud and forgery, however, amounted to N12.06bn, compared with the N0.78bn and $0.03m suffered in the first half of 2017.”

The apex bank said the cases involved armed robbery attacks, fraudulent Automated Teller Machine withdrawals, defalcation, illegal funds transfer, pilfering of cash, stealing, suppression and conversion of customers’ deposits.

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“As banks invest in their services to ensure that their technical systems are protected and secure, they have also continued to enlighten customers on how to stay safe with their deposits because fraudsters are also becoming more sophisticated in the way they gain access into different bank accounts.”

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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