30 results
- 24 Mar 2022
Interswitch Rolls Out Biometrics to ATMs to Tackle Banking Fraud in Nigeria
Interswitch, digital payments solution provider, is in the process of rolling out a new solution designed with advanced biometric features to help fight banking fraud at point-of-sale (POS) terminals…
- 18 Jun 2012
ATM Fraud Records Significant Reduction
Automated Teller Machine (ATM) fraud which has created fear in use of e-payments products has recorded a significant 98.5 per cent reduction, thanks to chip and pin technology, Nigeria…
- 4 May 2014
Demystifying the ATM Customer Experience in Nigeria
The ATM in Nigeria has gone from a mysterious machine of very high distrust to a basic essential. Understandably, being at the perceived epicentre of online fraud and Internet scams has made…
- 22 Mar 2010
CBN Moves to Check ATM Fraud
Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria (CBN) has expressed deep concern about Automated Teller Machines (ATMs) fraud becoming a major issue in the Nigerian banking industry.…
- 8 Sept 2010
Check ATM Fraud or Pay, CBN Tells Banks
Central Bank of Nigeria (CBN) has asked deposit money banks (DMBs) otherwise known as commercial banks in the country to check the rising incidences of fraud in the electronic payment system or…
- 9 Jul 2013
CBN Mulls Biometric Authentication for ATM to Stem Fraud
Central Bank of Nigeria (CBN) is planning to introduce biometric authentication of Point of Sale (POS) and Automated Teller Machines (ATMs) to address safety of customers’ funds and avoid losses…
- 7 Jan 2017
Shortage of ATMs Hobbles Nigeria's Cash-less Initiative - NIBSS
Nigeria remains more than 40,000 short of the number of ATM installations needed to serve its 180 million citizens, but has "come a long way," according to a spokeswoman from the Nigerian Interbank…
- 16 Feb 2009
ATM Fraud Awareness is Education-Elegbe
Mitchell Elegbe is managing director/CEO, InterSwitch Limited, one of Nigeria’s major switching companies. Elegbe has significant exposure and in-depth knowledge of the industry, both…
- 2 Mar 2015
Inlaks Unveils Fingerprint ATMs in Nigeria
Inlaks Computers, in support of the Central Bank of Nigeria’s (CBN) financial inclusion programme, has introduced Hyosung Finger Print Biometric Automatic Teller Machines to the Nigerian local…
- 29 Sept 2008
EMV Chip Card Will Address ATM Fraud-Bukar
Mr. Kyari Bukar, managing director /chief executive officer, ValuCard Nigeria Plc has distinguished himself through creative achievements to the ICT industry. His company is a flagship which Provides…
- 12 Apr 2010
ATM Ombudsman Commences Operation This Year
Automated Teller Machines (ATM) fraud has become commonplace in Nigeria and the Central Bank of Nigeria (CBN) has moved swiftly to curb the menace with the setting up of an Ombudsman that will handle…
- 21 Mar 2023
To make ePayments more acceptable, Nigeria needs to curb fraud
By Victor Irechukwu, Head of Engineering, OnePipe When a credit alert drops on your phone, chances are you will get excited. Even if it wasn't a surprise and you were expecting that money. But when…
- 20 Oct 2015
Nigeria Loses N6.2Bn to Bank Frauds, Others in 2014
About N6.2 billion was lost to cybercrimes in Nigeria in 2014, according to Ibrahim Shazali, an official of the Economic and Financial Crimes Commission (EFCC), Bank Fraud Section, He disclosed…
- 23 Aug 2021
Access Bank Launches Awareness Campaign to Combat E-banking Fraud
As part of its continued commitment to educate and protect customers from e-banking fraud, Africa’s largest retail bank, Access Bank Plc, has launched an awareness campaign aimed at sensitizing…
- 12 Mar 2012
CyberCrime : Lawmakers Shelf Bill, Seek Harmonization
The bill to address risks associated with the use of e-payment channels is back to the drawing board after lawmakers withdrew the all important document for harmonization leaving the industry still…
- 13 Dec 2017
CBN to Replace ATM PIN with Bio ID
The Central Bank of Nigeria (CBN) is working toward the eventual replacement of the ATM PIN code with biometric identification. the announcement was made at a recent Nigeria Electronic Fraud…
- 2 Oct 2022
CBN and NIBSS Raise over Rising Internet Fraud
Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS) have expressed worry over the growing menace of Internet fraud in the financial services sector. They wondered why…
- 21 Dec 2009
Nigerians Do Not Respect Credit - Okonyia
Robert Okonyia is the managing director/CEO, Bocal (UK) Limited, a consultant firm offering services to financial institutions on payment solutions. Bocal has been doing that for banks in conjunction…
- 10 May 2010
EMV: ATMs Reject Magnetic Stripe Cards
Some banks installed Automated Teller Machines (ATMs) have started rejecting magnetic stripe cards, in what looks like a move to protect customers from card related fraud, Nigeria CommunicationsWeek…
- 15 Jun 2015
Reliance Infosystems Reveals New Framework to Fight Financial Fraud
In recent times, many corporate organizations in Nigeria have, especially those in the financial sector, have fallen victims of electronic (financial) frauds, but Reliance Infosystems has confirmed…
- 28 Jun 2026
ngCERT Raises Alarm over Surge in Banks' ATM Cyberattacks
Nigeria’s Computer Emergency Response Team (NgCERT) has urged financial institutions to reinforce their cybersecurity systems following a surge in automated teller machine (ATM)-related attacks…
- 4 Jul 2014
CBN Receives 4,142 Petitions on Fraud
Central Bank of Nigeria (CBN) said it received and treated 4, 142 fraud related petitions against Nigerian banks resulting in the refund of N14.69billion to aggrieved customers. Umma Dutse, director,…
- 1 Apr 2015
NIBSS Says Electronic Payment Transactions Increased 50% in 2014
Nigeria Inter Bank Settlement System (NIBSS) has disclosed, in its latest statistics, that 50% growth was recorded in the level of usage of various electronic payment transactions in the country in…
- 20 Nov 2019
Banks Refund N3Bn, $1.7m Excess, Unauthorised Charges
Bank customers who complained of excess/unauthorised charges, frauds, guarantees, dispense errors and funds transfers; demanded and received some N3.093 billion and $1.724 million respectively from…
- 21 Jan 2026
Banks to Cut Fraud Response Times to Under 30 Minutes
Banks in the country have agreed to reduce fraud response times to under 30 minutes, a move expected to significantly improve recovery outcomes and limit systemic risk, according to the Central Bank…
- 5 May 2019
Bank Customers Lose N3.6Bn to Cyberfraud
A total of 63,895 bank customers lost N3.6bn to cyberfraud in two years, 2017 and 2018, the Nigeria Electronic Fraud Forum (NeFF) has disclosed. Sam Okojere, chairman, NeFF, who is also the…
- 15 Sept 2024
Nigerian Banks Lose N42.6Bn to Fraud in Q2 2024 - FITC
Financial Institutions Training Centre (FITC), has reported an 8,993 per cent rise in fraud losses in Nigeria banks, totaling N42.6 billion in second quarter of this year. The report noted that the…
- 11 Dec 2013
CWG Wins Prestigious Wincor-Nixdorf Award
Computer Warehouse Group (CWG Plc), leading Pan African ICT giant,was accorded the highest recognition at the just concluded Wincor Portugal, Middle East and Africa Regional Partners Summit 2013 in…
- 18 Aug 2008
Card Fraud:ValuCard Trains Banks, EFCC, Others
ValuCard Nigeria, electronic payment switching provider, has commenced intensive 2-day Card Fraud Management training for executives, senior officers and operatives of banks, the Economic &…
- 29 Sept 2013
Use VAT to Encourage e-Payment-Apochi
Agada Apochi, managing director, Unified Payments, has urged federal government to consider granting tax relieve to consumers to encourage the use of electronic card for payments at merchant…