Banks and fintechs face accusations of ignoring CBN withdrawal limits, leading to a dramatic fraud surge, NIBSS reports.
Digital fraud in Nigeria surges, with banks losing N52 billion. NIBSS report highlights rising threats and needed security ...
Money lost to fraud in Nigeria's banking system has nearly tripled over the past five years, an industry regulator said ...
Fraudsters exploited vulnerabilities in Nigeria’s banking system to steal over N1 billion through Bank Verification Numbers (BVNs) illegally registered minors.
The Nigeria Inter-Bank Settlement Systems (NIBSS) has said it’s in talks with the National Assembly to create laws or improve ...
The Nigeria Inter-Bank Settlement System (NIBSS) has accused Nigerian banks and fintechs of flouting the Central Bank of Nigeria's (CBN’s) ...
A N52 billion fraud loss by Nigerian banks in 2024, despite ongoing attempts to strengthen security systems, underscores the ...
Today, the country boasts one of the most advanced payment infrastructures in the world, processing more real-time payments ...
Zone’s entry into Nigeria’s payment ecosystem introduced a revolutionary concept: a blockchain-powered payment infrastructure designed specifically for financial institutions. In ...
As we can recall, Nigeria's banking system has for many years been dominated by the traditional banks, who dictate their ...
The amount lost to fraud in Nigeria’s digital payments sector has surged by 350 per cent over the past five years, rising from N11.61bn in 2020 to N52.26bn in 2024, according to a recent report by the ...