Nigeria: N4.8 Billion Frauds in Banks
Vanguard (Lagos), August 2007
In spite of the recent banking sector consolidation, frauds remain a major challenge for the industry as the Nigeria Deposit Insurance Corporation (NDIC) has said there were 1,193 cases of frauds and forgeries in the banks, involving N4. 832 billion last year.
According to the corporation in its 2006 Annual Report, released to the media in Abuja, yesterday, out of the number of reported cases, 612 cases were successfully executed by the perpetrators, resulting in loses amounting to N2.768 billion.
Opportunit? Perhaps! The banking fraud detection software companies should probably explore if Nigerian Banks could be a prospective customer base, if this is such a major pain point in that country. Not saying they will make great customers overnight, but it might be a good idea for those tech companies to check out all the same.
No comments:
Post a Comment