– CBN in its latest report, disclosed that Nigerian banks have lost about N12 billion to criminal activities
– The apex bank revealed that the loss was recorded over a period of not more than six months in 2018
– It further stated that the figure was a lamentable increase compared to the N0.78 billion and $0.03 million suffered in 2017
The Central Bank of Nigeria (CBN) has revealed that osses recorded by banks from armed robberies and other criminal activities carried out by staff and non-staff members of lending financial institutions rose to N12bn in six months.
CBN disclosed that the attempted fraud and forgery cases, which were, however, not successful, stood translated to about N7.99bn between January and June 2018, Punch reports.
Moreover, the apex bank in Nigeria said that there was an alarming increase in the reported cases of such incidences from 16,762 in the first half of the financial year of 2017 to 20,768 in the corresponding period of 2018.
CBN said: “There were 20,768 reported cases of fraud and forgery (attempted and successful), valued at N19.77bn in the review period, compared with 16,762 cases, involving N5.52bn and $ 0.12m in the corresponding period of 2017.
“The actual loss by banks to fraud and forgery, however, amounted to N12.06bn, compared with the N0.78bn and $0.03m suffered in the first half of 2017.”
The apex bank said the cases involved armed robbery attacks, fraudulent Automated Teller Machine withdrawals, defalcation, illegal funds transfer, pilfering of cash, stealing, suppression and conversion of customers’ deposits.
Added to efforts to ensure that their technical systems are protected and secure, banks have also continued to enlighten customers on how to stay safe with their deposits as fraudsters are also becoming more sophisticated in their hacking patterns into different accounts.
The banks have continued to have their share of the effects of insecurity challenges in the country as a result of reported cases of armed robbery attacks on them, situations in which robbers had carted away unspecified amount of money.
A major attack on banks in 2018, which claimed lives was the incidence was the Offa robbery which took place in Kwara state in April.
The CBN, despite the risks in the economy and financial sector, pointed out that that under its surveillance, it would continue to accord priority to the safety of the institutions.
It thus said that CBN/Nigeria Deposit Insurance Corporation joint risk-based assessment of banks was conducted to ascertain the quality of risk assets and adequacy of loan loss provisions.
CBN added: “Also, risk-based examinations of specialised institutions, including the Asset Management Corporation of Nigeria and three credit bureaux, were carried out.”
Meanwhile, Legit.ng reported that the Nigeria Police Force (NPF) had denied reports suggesting that a new generation bank in Surulere Lagos was being attacked by armed robbers.
According to CP Abayomi Shogunle, the head of police public complaint rapid response unit, men on motorcycle shot a man standing in front of the bank on the leg and sped off. He further revealed that the victim has been rushed to hospital and is in stable condition.