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Nigerians lost N42bn to POS, mobile phone frauds in 3 months- Report

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By Mario Deepromoter

Scam cases involving computer, mobile, and point-of-sale (POS) systems accounted for the majority of fraudulent activities recorded in Nigeria during the second quarter of 2024.

This was disclosed in the latest fraud report by the Financial Institutions Training Centre (FITC), which detailed a total of 11,532 cases during the period under review.

“Computer/web fraud, mobile fraud, and POS-related fraud were the three most prevalent types, continuing the trend observed throughout 2023 and into the first quarter of 2024,” the report indicated.

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According to the report, the total value of fraud reported in the second quarter was N56.3billion, an increase from N34.8billion reported in the first quarter of the year.

Out of the N56.3billion, N42.6billion was lost to fraudsters, while N13.7billion was successfully recovered by financial institutions.

It noted that fraud cases related to mobile channels, which included mobile apps and internet banking, dominated the list, accounting for 33.4 percent of the total cases.

Closely following were POS-related frauds, representing 24.6 per cent, and web-based fraud, contributing 16.9 percent of the cases.

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Computer-based fraud also featured prominently in the report, underscoring the growing threat of cybercrime within Nigeria’s financial ecosystem.

The report revealed that bank branches recorded the largest share of losses, with 95 per cent of the total fraud value.

According to FITC, despite advances in technology, insider and outsider threats remain prevalent, with involvement from both staff and external fraudsters.

It noted that staff involvement in fraud increased, with 49 employees dismissed for their roles in fraudulent activities during the quarter.

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“A magnitude-based ranking of fraud categories indicated that bank branches had the highest impact, with a total loss of around N54bn, comprising a substantial 95.63 per cent of the overall fraud amount.

This was followed by web-based fraud, which accounted for N1.2billion (2 percent), while POS and mobile fraud each contributed about 1 percent, with N651million and N547million, respectively,” it expounded.

FITC also highlighted the shift in fraud tactics, with card-related fraud decreasing by 31.8 per cent, while cheque and cash fraud cases surged significantly, leading to massive financial losses.

According to the institute, the rise in cash-related fraud was particularly concerning, indicating that fraudsters are still finding ways to exploit traditional financial instruments.

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FITC reiterated the importance of leveraging artificial intelligence and advanced technology to combat the increasing sophistication of fraud in the country’s financial sector.

It stressed that proactive measures, such as enhanced security systems and continuous staff training, were crucial for curbing the menace of fraud.

For FITC, the financial sector continues to face mounting challenges, with fraudsters exploiting both new and traditional channels to target banks and financial institutions across Nigeria.

“The need for stricter regulatory oversight and the adoption of cutting-edge technology remains paramount in safeguarding the financial landscape from future threats,” it stated.

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The reports also stated that commercial banks lost N42.6billion to fraud and forgeries over three months from April to June this year.

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#OndoDecides2024: APC congratulates Aiyedatiwa, applauds Ondo electorate

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By Francesca Hangeior

The All Progressives Congress has congratulated the Ondo State Governor, Lucky Orimisan Aiyedatiwa, on his re-election in the just-concluded governorship election.

 
Aiyedatiwa won the election, having polled a total of 366,781 votes across all 18 Local Government Areas of the state.

 
He defeated his closest rival — Agboola Ajayi of the Peoples Democratic Party, who got 117,845 votes.

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In a statement issued by the APC National Publicity Secretary, Felix Morka, on Sunday, and made available to PUNCH Online, the party described Aiyedatiwa as a “clear attestation” that his administration’s policies “resonated deeply with the electorate.”

 
The statement read, “The All Progressives Congress (APC) heartily congratulates the Governor of Ondo State, His Excellency, Lucky Orimisan Aiyedatiwa, on his re-election.

 
“Your Excellency’s resounding victory in the just-concluded Ondo State gubernatorial election is a clear attestation that your administration’s policies and programmes and campaign message of hope and consolidation have resonated deeply with the electorate.

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NiDCOM rescues 13 trafficked Nigerian women from Ghana

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*** says 163 victims saved between July, November

By Francesca Hangeior

 
The Nigerian in Diaspora Commission, NiDCOM, has successfully facilitated the rescue and repatriation of 13 trafficked Nigerian women from Ghana, bringing the total number of victims returned over the past five months to 163.

This was revealed in a statement by Abdur-Rahman Balogun, NiDCOM’s Director of Media, Public Relations, and Protocols.

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The operation, executed through collaborative efforts, involved the Ghanaian Anti-Human Trafficking Police Unit, Rescue Live Foundation International, NIDO Ghana, and NiDCOM.

The latest group of rescued women, aged 19 to 30 years, hails from Ebonyi, Benue, Kaduna, and Rivers States.

It was gathered that they were lured to Ghana under false pretenses of employment but were subjected to exploitative conditions and coerced into secrecy oaths while their traffickers profited from their ordeal.

NiDCOM’s Chairman/CEO, Hon. Abike Dabiri-Erewa, expressed her gratitude to key supporters, including Nigeria’s First Lady, Senator Oluremi Tinubu, and Ebonyi State Governor, Francis Nwifuru, for their roles in ensuring the safe return of the victims.

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She also praised Chief Callistus Elozieuwa, BOT Chairman of Rescue Live Foundation International/NIDO Ghana, and the Ghanaian Anti-Human Trafficking Police Unit for their commitment to prosecuting the traffickers.

Dabiri-Erewa reiterated NiDCOM’s commitment to protecting Nigerians abroad, aligning with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes combating human trafficking and safeguarding citizens’ rights.

Upon arrival in Nigeria, the women were handed over to the National Agency for the Prohibition of Trafficking in Persons, NAPTIP, for rehabilitation and reintegration.

NiDCOM representative Akinboye Akinsola, who accompanied the women, noted that they willingly sought assistance after learning about previous rescue efforts in Ghana’s Kpone Katamanso and Tema regions.

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Chief Callistus Elozieuwa highlighted the support provided to the women in Ghana, including temporary shelter, before their return to Nigeria.

Valentine Okike Uzo, Senior Special Assistant to the Governor of Ebonyi State, commended Governor Nwifuru’s dedication to supporting indigenes both at home and abroad. He assured that measures are in place to ensure proper rehabilitation for those returning to Ebonyi State.

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Dabiri-Erewa celebrates Chidimma’s emergence as First Runner up, Miss Universe

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By Francesca Hangeior

The Chairman/CEO Nigerians in Diaspora Commission (NIDCOM) Hon. Abike Dabiri-Erewa, has congratulated Nigeria’s Chidimma Adetshina for emerging second at Miss Universe 2024, describing it as a reward for her doggedness and resilience.

In a congratulatory statement issued by Abdur-Rahman Balogun, Director of Media, Public Relations and Protocols of the Commission, the NIDCOM boss was excited that despite all odds, Chidimma remained focused and attained her goals.

Dabiri-Erewa said though Chidimma Adetshina as Nigeria’s representative, finished as the first runner-up at the 73rd Miss Universe Competition held in Mexico, her courage, determination and support from Nigeria eventually paid off. She was also named Miss Africa and Oceania 2024.

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Dabiri-Erewa recalled Adetshina’s controversial official withdrawal from the Miss South Africa 2024 contest, of which she had advanced to the final stage ,some few months back, noting that Nigeria warmly welcomed her, after being literally forced out of South Africa.

While in Nigeria, accompanied by President Silverbird group, Mr Guy Murray Bruce, Chidinma was warmly received at the NIDCOM Lagos office, and thereafter hosted to a grand reception at Idris Olorunnibe’s “The Temple,” Victoria Island ,with music legend, Dbanj in attendance.

Describing her as brilliant, focussed and determined, she urged others to emulate the spirit of Nigerianess in Chidimma by being proud of the country and not run it down under whatever guise.

The competition, described as one of the most thrilling in recent years, celebrated the talents, intelligence, and elegance of women from around the globe.

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Nigeria came second behind Miss Denmark, Victoria Kjaer Theilvig, who won the keenly contested crown from Miss Universe 2023, Sheynnis Palacios of Nicaragua.

It will be recalled that Chidimma was rejected by South Africa who expressed worries and questioned her nationality.

Due to that, Adetshina came to Nigeria to represent Taraba State and won the title of Miss Universe Nigeria.organised by the Silverbird group.

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