Digital Fraud Don Drop for Naija, Na Wetin Happen?

You no go believe am, but digital fraud for Naija don waka small! E drop by 51% from last year to N25.85 billion. Na NIBSS Managing Director, Premier Oiwoh, talk dis matter as him dey gist for 2026 Nigeria Electronic Fraud Forum wey happen for Lagos.

Make I yarn you wetin happen. For 2023, we face serious wahala as we lose about N17.67 billion, but 2024 come chop us again with N52.26 billion! Na one big fraud case wey involve one bank carry the matter come, o! E get one entity wey dey chop N31.1 billion from everywhere. But 2025, we don shine, losses don drop again!

According to the figures wey dey ground, fraud cases dey reduce from 123,918 in 2021 to 67,518 in 2025. But Lagos still dey hold the crown with 63.43% of all the wahala wey dey happen. Abuja dey follow but with just 3.12%. Other states like Ogun, Rivers and Delta dey join the party, but dem no reach Lagos level.

For where dem dey steal money, e-commerce and internet banking na dem dey chop pass. After that, na point of sale, mobile and web platforms dey follow. Oiwoh talk say social engineering na the main style wey dem dey use carry out dis fraud, and insider problem dey serious for here! E don show say many insiders dey join hand with fraudsters and na that one dey cause plenty palava.

Na wah! E don clear say we need better internal control, and people wey dey work for banks make dem dey monitored well well. Last year we fit save N20 billion through team work among institutions, but wetin we go do about those wey no dey report fraud incidents? Fraud report don drop by 34% last quarter of 2025, and na bad thing be dat. If you no report am, dem go just waka go another place come do their thing.

Naija, we fit do better jare. Awareness na the key. Persons wey no sabi wetin dey happen fit easily fall victim. Na so e be, make we shine our eye and dey on alert all the time. Dem don talk say trust among banks and institutions na serious matter. If we no work together, we go continue to dey suffer.