Latest data released by the Central Bank of Nigeria (CBN) revealed that the banking sector lost over N3.04 billion in 2014 to electronic fraud. The apex bank’s Financial Stability Report (FSR) for December 2014, posted on the regulator’s website stated that the cases of fraud and forgeries in the industry increased to 6,250 at the end of December 2014, from 5,197 reported in the first half of the year.
The study also stated that although the total amount involved in these cases dropped to N9 billion at the end of December 2014 from N16.82 billion recorded in the first half of …Read More
Source:: PM Newspaper
