The corruption in the country seems to have infested the banking sector as the National Deposit Insurance Corporation (NDIC) reported that casual workers or temporary staff stole about ₦7 billion, or 38.6%, of the ₦18.02 billion forgeries and frauds reported by Nigerian banks in 2015.
It is quite disturbing that despite attempts made to curb the loss of funds in financial institutions, NDIC’s scorecard for the year indicated that incidences of fraud rose by 15.71% to a total of 12,279 from 10,612 in 2014.
On a lighter note, I guess it’s a good thing that the actual amount involved fell by ₦ 7.59 billion or 29.63% from ₦25.608 billion recorded in 2014 to ₦18.021 billion in 2015.
With a jump in the frequency of cases involving ATM/card-related fraud cases from 7,181 in 2014 to 8,039 in 2015, we might need to start saving our card details in our memory to avoid carrying them around.
Financial institutions will need to figure out a way to avoid the permanency of temptation for temporary staff or casual workers.
Want more articles like this? Subscribe now to our newsletter for periodic updates on African startups, innovation and tech.
New Report: Nigerian startups raised $24.7 million in Q2 2019, 40% higher than Q1. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
Writer at Techpoint | Creative Wordsmith, Digital Strategist and High Performance Coach on themindofcodybanks.com. i_think THEN i_ink. I’m always a tweet away @PeaceCodybanks.
