More than N5 billion has been lost to fraud between January and September 2020, Nigeria Inter-Bank Settlement System Plc reveals.
The System made this revelation during its NIBBS insight report on ‘Fraud in the Nigerian Financial Services.’
The report in parts reads; “On a global scale, fraudulent activities have resulted in losses amounting to about $42bn. Approximately 39 percent are perpetrated by external parties, while 37 percent are perpetrated by internal parties.
“Driving deeper in Nigerian industry data, the actual figures reported by the industry are quite striking.
The commission further states in the report that more than 91 percent of attempted fraud since September has cost the banking a whopping loss of N5 billion.
“This year, about 91 percent of all fraud attempts as of September have resulted in a total loss, and more than N5bn was lost as a result of fraud within the period.
“This represents financial institutions with an opportunity to protect their investments as well as attract customers by offering increased artificial protection and the ability to recover lost funds more easily.”
According to the report, a further revelation was made stating that the industry anti-fraud portal’s data displayed 56 percent of all known and recorded fraud attempts that were done using social engineering tools.
Afeez Owo’s wife, Mide Martins allegedly in a sexual relationship with younger actor, Kiki Bakare (photos)
An unconfirmed report has claimed that actress Mide Martins who is married to fellow actor and movie producer, Afeez Owo, is sexually involved with a younger actor, Kiki Bakare.
This is coming barely 24 hours after blogger Gist lover accused the actress of abandoning the last child of her late mum, Funmi Martins.
According to controversial blogger, Gistlover on Instagram, late Funmi Martins bore her last child, a boy to famous Nigerian juju musician, Shina Peters. Gistlover, however, claimed that the boy who is 19 years now has dropped out of school due to unavailability of funds.
Mide Martins, on the other hand, was accused of abandoning the boy and blocking him on her Whatsapp app to restrict communication with him.
The Former Governor of Ogun State, Otunba Gbenga Daniels, has defected from the People's Democratic Party, PDP to All Progressive Congress, APC.
Revealing his defection to APC on Tuesday, Gbenga, who was the campaign manager for Atiku Abubakar, PDP's 2019 Presidential candidate, said he had received mouth-watering encouragement to join the APC.
His defection to APC was needful following his support for Governor Dapo Abiodun; he also said it took a rapid turn after the national caretaker Chairman of APC with three governors visited him.
Daniels said,” Dear Friends & Colleagues, pardon my short notice in informing you of my route to the APC, which, as you might have suspected, started with my...
Debunking the ruthless use of Force by the Nigeria Police at the #OcuupyLekki protesters, Minister of Police Affairs Mohammed Dingyadi on Tuesday claims 'minimum force' was used on the protesters.
While speaking with newsmen in an interview, the Minister reveals that what the Police did to the protesters was the right thing to do.
“This is the kind of thing that we want to take place in any situation that we find ourselves. Like what you saw in Lekki, this is how it is supposed to be, they were fully equipped, well-uniformed, and they were ready for the #EndSARS protesters. That was why we were able to contain the situation.” Dingyadi opined.
When asked if the...