The Central Bank of Nigeria (CBN) has said the Nigeria InterBank Settlement System (NIBSS) recorded over 1,200 per cent increase in reported fraud cases in 2016, estimated at N2.19 billion when compared to 2014 cases.
According to ‘Dipo Fatokun, CBN’s Director, Banking and Payments System…Banks lost N2.2bn to electronic fraud in 2016, CBN says
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