Fraudsters steal over N1 billion through BVN registered for minors – NIBSS
Fraudsters exploited vulnerabilities in Nigeria’s banking system to steal over N1 billion through Bank Verification Numbers (BVNs) illegally registered minors.
Tag: NIBSS
Banks, fintechs flouting CBN’s daily withdrawal limit, allow fraudster withdraw N374 million -NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has accused Nigerian banks and fintechs of flouting the Central Bank of Nigeria's (CBN’s) ...
Fraudsters steal N400 million through accounts opened with stolen identity in 2024 – NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has reported that approximately N400 million was stolen by fraudsters through financial accounts opened ...
Nigeria’s financial sector suffers N52.26 billion loss to fraud in 2024 – NIBSS report
Financial institutions in Nigeria lost N52.26 billion to fraud in 2024 according to the latest report by the Nigeria Inter-Bank ...
NIBSS upgrades NQR payment to enhance digital transactions in Nigeria
The Nigeria Inter-Bank Settlement System (NIBSS) has unveiled significant upgrades to its Nigeria Quick Response (NQR) payment system, designed to ...
PoS transactions surge to 18 trillion in 2024 as fintechs expand terminal deployment
The value of transactions over Point of Sales (PoS) terminals in Nigeria surged to N18 trillion in 2024, hitting an ...
Mobile money: Palmpay, OPay, others process N71.5 trillion transactions in 2024
The latest data released by the Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that licensed mobile money operators including Palmpay, ...
Active bank accounts in Nigeria rise to 311.6 million in December 2024—NIBSS
The latest data released by the Nigeria Inter-Bank Settlement System (NIBSS), has revealed that the number of active bank accounts ...
E-payment transactions in Nigeria hit all-time high of N1.07 quadrillion in 2024
Electronic payment transactions in Nigeria rose to N1.07 quadrillion in 2024, reaching an all-time high and the first time to ...
NIMC’s multipurpose card: The bold plan to transform how Nigerians use money
Nigeria is on the verge of a new payment revolution, which experts are hopeful will bring more than 28 million ...
