The Financial Training Institution Center (FTIC) has reported that no fewer than 110 senior bank officials and junior employees have been sacked for fraud-related crimes during the previous two years.
In its ‘Reports of Fraud and Forgeries in Nigerian Banks,’’ on the second quarter of 2021 and Q2 2023, the FITC said that only four bank officials were sacked in Q2 2021, but that the figure rose by 175 per cent to 11 in Q2 2023.
FITC’s members are members of the Nigerian Banker’s Committee, which comprises the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation, and all licensed banks in Nigeria.
The report said that the highest number of sacked top bank executives and junior staff members was recorded in Q3 2022 where 20 officials were fired.
It said that between Q2 2021 and Q2 2022, 52 bank staff members were sacked for fraud-related issues.
According to the report, between Q3 2022 and Q2 2023, 58 bank staff members were sacked for the same reason.
It said that within the period under review, the sacked staff members were involved in a total of 967 fraud cases.
The highest number of cases was recorded in Q4 2021, with 410 cases involving bank staff, while the lowest was recorded in Q3 2021, with 32 cases.
The report said that between Q2 2021 and Q2 2022, bank staff were involved in 657 cases, while between Q3 2022 and Q2 2023, they were involved in 310 cases.
It added that about N18.01 billion was lost due to fraud committed by bank staff and outsiders within the reviewed period out of a total of N81.69 billion involved in fraud cases.
It was earnt that the highest amount lost was N5.79 billion in Q2 2023, while the lowest amount lost was N472.28 million in Q1 2023.
For the total amount involved, the highest amount was N34.78 billion in Q3 2021, while the lowest amount was N1.18 billion in Q2 2022.
It was observed also that mobile fraud, computer/web fraud, and P0S-related fraud were the most prevalent types of fraud, and this trend persisted in Q2 2023.
In June 2022, the PUNCH reported the continued trial of three former workers with the First Bank of Nigeria facing attempted fraud charges before a Lagos State Special Offences Court, Ikeja.
The defendants, Ozioma Ugorji, 35; Ugwu Emeka, 32; and Obike Chukwuka, 38, were arraigned by the Economic and Financial Crime Commission for allegedly attempting to steal N20bn from the bank.