In the past ten years, fraud and forgery cases in Nigerian banks peaked in 2021, with an 88% rise from 2020

Over the past ten years, there has been a rising trend of fraud and forgery cases in Nigerian banks. Although there was an 88% increase in reported cases in 2021, there was a 27% decrease in 2022, resulting in a 221% increase in financial losses of ₦9.5 billion.

Eighty-six (86%) of the money involved in these cases was recovered thanks to banks' internal control techniques and assistance from relevant government agencies; ₦45 billion remains unrecovered.

Source:

Financial Institutions Training Centre

Period:

2013 - 2022
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