Adebisi Shonubi: Nigerian banks lose N12.30bn to fraud in 4 years – NIBSS.

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Mr Adebisi Shonubi, Managing Director, NIBBS, disclosed this at the third Annual Banking Security Summit organised by MAXUT Consulting in partnership with OneSpan, a global data security company in Lagos.

The Nigerian Inter-Bank Settlement System (NIBSS), on Thursday said the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017.

Mr Adebisi Shonubi, Managing Director, NIBBS, disclosed this at the third Annual Banking Security Summit organised by MAXUT Consulting in partnership with OneSpan, a global data security company in Lagos.

Shonubi said the figure was lost in 41,461 fraud cases between 2014 and 2017. Specifically, he noted that 2014 fraud volume stood at 1,461, 10,743 (2015), 19,531 in 2016 and 25,043 in 2017.

By NAN.
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