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Fidelity Bank boss advocates measures to curb e-fraud challenges

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Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has called on the Nigeria Electronic Fraud Forum, NeFF to come with solutions to the challenges posed by electronic fraud to financial system.

According to a report published in Vanguard Newspaper, she made this call in Lagos while speaking at the 3rd quarter general meeting of NeFF.

Nneka Onyeali-Ikpe explained that e-fraud are activities carried out online to exploit individuals and business entities for financial gain.

She listed examples of e-fraud to include: Phishing; Advanced fee fraud (419); Online Auction Fraud; Identity Theft; Tech Support Scams; Online Romance Scam; Investment Scam; Business Email compromise; Ransomware; Online Rental Schemes; Pyramid Schemes; and Click Fraud.

Highlighting the rising trend of e-fraud in the country and the associated challenges, the Fidelity Bank boss said: “According to data released by NIBSS, the value of electronic payment transactions in Nigeria increased by 298% YoY from N34.04 trillion in Q1 2022 to N135.52 trillion in Q1 2023.

“As technology continues to advance at an unprecedented pace, our reliance on digital transactions has grown exponentially. However, with this rise in digital interactions, the threat of e-fraud has become a significant challenge affecting individuals, businesses, and industries alike.

“The banking industry lost a total of N14.3 billion to electronic fraud in 2022, up from the N12.7b reported in 2021. As at Q1 2023, the total fraud loss was N5b according to the NIBSS Annual Fraud Landscape reports.

“The Mobile channel is the most exploited channel by fraudsters in 2021 and 2022 with 42,821 and 45,090 reported fraud records respectively. Total fraud count in 2021 was 123,918 and 101,668 in 2022.

“E-fraud has permeated multiple industries, spanning from banking and finance to e-commerce and beyond. These cybercriminals leverage advanced methods to exploit vulnerabilities, gaining unauthorised access to crucial data and funds. The repercussions of e-fraud are not limited to financial losses; they also extend to eroding trust and eroding brand reputation.

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Two Nigerians win Germany Science awards

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Two Nigerian-born scientists—Adesola Adegoke, a researcher at Arizona State University (ASU), and Seunnla Adelusi, a PhD candidate at the Université de Sherbrooke, Canada—have been named among the 20 global winners of the Digital GreenTalents Award 2025.

These two Nigerians were announced among the winners during a virtual ceremony held on 25 November. In a statement following the virtual announcement ceremony, the organisers said the 20 awardees for this year joined from different time zones, including “very early morning in Canada and evening hours in the Philippines.”

The digital Green Talent Award is an annual initiative of the German Federal Ministry of Education and Research (BMBF) that recognises outstanding young researchers whose work advances sustainability through digital innovation.

Each year, 20 scientists are selected from a competitive global pool for their cutting-edge ideas at the intersection of digitalisation and environmental sustainability.

 

 

 

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Gov Alex Otti visits Nnamdi Kanu in Sokoto prison

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Alex Otti, the Abia State Governor, on Sunday paid a visit to the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, at the Sokoto Correctional Centre.

The governor was accompanied by officials of the Sokoto State Government during the closed-door visit.

Nnamdi Kanu was recently moved to Sokoto after he was convicted on terrorism-related charges and handed a life sentence by a Federal High Court in Abuja.

Governor Otti had earlier promised to pursue every lawful and political avenue to ensure that Kanu gets justice. Sunday’s visit is seen as part of ongoing efforts by the Abia State Government regarding his case.

Details of the meeting were not made public as of the time of this report.

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Terrorists abduct bride, bridesmaids in Sokoto attack

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Armed terrorists have abducted a bride-to-be, her bridesmaid, and eight other residents from Chacho village in Wurno Local Government Area of Sokoto State

The Sokoto abduction occurred around 1:30 a.m., according to residents, when the attackers stormed the village. Most of the victims were women, with only one man also taken.
One resident sustained injuries and is receiving medical treatment. Villagers told reporters that the bride was preparing for her wedding scheduled for later that morning when the raid struck, plunging the community into shock and mourning.

A community member described the attack as “tragic,” noting the delay in security response. “Security operatives were alerted immediately, but they only arrived about an hour after the bandits had fled,” he said, expressing frustration.

 

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