Headline
Bank Customers Lose N2.72bn To Fraudsters – Report

A report by FITC has revealed that bank customers in Nigeria lost a total of N2.72bn to fraud in the first and second quarters of 2022.
It was also disclosed that there was a total of 67,878 cases of fraud recorded within this period.
This was according to the second quarter report obtained by our correspondent from the website of FITC.
FITC’s institutional members are members of the Nigerian Banker’s Committee, which comprises the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation and all liscensed banks in Nigeria.
READ ALSO: Hackers Steal $11m From Nigeria, Others
The data, however, showed a decline in the number of fraud cases across the banks compared to the first quarter of 2022.
According to the report, a total of 27,356 incidents of fraud and forgeries were reported in Q2, compared to 40,522 reported cases in the first quarter of 2022, representing a 32.49 per cent decrease between within the periods.
The total sum reported to be involved in fraud cases during the period also decreased by 40.05 per cent from N14.65bn in Q1 2022 to N8.78bn in Q2 2022.
Likewise, for the total amount lost due to fraud incidences, there was a slight decrease of 23.66 per cent from N1.54bn in the first quarter of 2022 to N1.17bn in the second quarter of 2022.
The report showed that mobile fraud which includes fraud activities through USSD transactions had the highest occurrence followed by computer/web fraud and POS fraud.
The report read in part, “Evaluating the total amount lost to frauds in Q2 2022 reveals that Mobile Fraud accounts for 38.18 per cent at N449m loss, followed by Miscellaneous & other types of fraud accounting for 32.19 per cent (N379m) and Suppression of Entries at 11.02 per cent (N129.64m).
“A closer look at the unusual amount recorded under the miscellaneous fraud revealed that the fraud was carried out via E-naira for which the banks were liable.
“With regards to the returns by payment channel, the analysis reveals that there was a decrease in the amount lost to fraud via the web, ATM and PoS channels.”
“The amount lost via the web channel decreased considerably from N1.07bn to N98.4m while the amount lost via the ATM channel decreased from N43m to N5.9m. On the other hand, an increase was noted in the amount lost via the bank branch, mobile fraud channels, from N103.45m to N618.24m (497.56 per cent) and N270.92m to N449.03 million (65.74 per cent).”
The FITC further said it was necessary for banks to further strengthen their internal control measures for improved efficiency in pre-empting fraud activities and ultimate prevention of fraud.
Recently it was reported that at least 6,047 Bank Verification Numbers of bank customers have been placed under the CBN watch-list for fraudulent transactions.
READ ALSO: How Three Ex-bank Workers Planned With Hackers To Steal N20bn – Witness
According to the Nigeria Interbank Settlement System, Nigeria has one of the most advanced electronic payment capabilities in the world. It said the increase in transaction processing speed and available channels had also created an avenue for fraudulent transactions to thrive.
In its ‘NIBSS Insight: Fraud in the Nigeria Financial Services’ report, it said, “Statistically, even a one per cent successful fraud rate would result in 100,000 successful fraudulent transactions daily.
“This would directly impact customer’s faith in the entire system and could significantly impact our financial inclusion drive as well as the CBN cashless policy.”
PUNCH
Headline
Afghanistan-Pakistan Border Clashes Escalate After Alleged Air Strikes

Afghanistan’s Taliban forces launched armed reprisals against Pakistani soldiers along the shared border on Saturday, accusing Islamabad of carrying out air strikes on its soil, senior officials from several provinces said Saturday.
On Thursday, two explosions were heard in the Afghan capital and another in the southeast of the country. The following day, the Taliban-run defence ministry blamed the attacks on Pakistan, accusing its neighbor of violating its sovereignty.
“In retaliation for air strikes carried out by the Pakistani army on Kabul,” Taliban forces are engaged “in heavy clashes against Pakistani security forces in various areas” along the border, the Afghan military said in a statement.
Islamabad did not confirm that it was behind Thursday’s attacks, but called on Kabul “to stop harbouring the Pakistani Taliban (TTP) on its soil.”
READ ALSO:Taliban Attacks Kill 23 In Northwestern Pakistan
The TTP, trained in combat in Afghanistan and claiming to share the same ideology as the Afghan Taliban, is accused by Islamabad of having killed hundreds of its soldiers since 2021.
Taliban officials from Kunar, Nangarhar, Paktia, Khost, and Helmand provinces — all located on the border between Pakistan and Afghanistan — confirmed that clashes were ongoing.
“This evening, Taliban forces began using weapons. We fired first light and then heavy artillery at four points along the border,” a senior official in Pakistan’s Khyber-Pakhtunkhwa province, bordering Afghanistan, told AFP.
“Pakistani forces responded with heavy fire and shot down three Afghan quadcopters suspected of carrying explosives. Intense fighting continues, but so far, no casualties have been reported,” he continued.
READ ALSO:US Threatens To Sanction Countries That Vote For Shipping Carbon Tax
– Uptick in violence –
In recent months, TTP militants have intensified their campaign of violence against Pakistani security forces in the mountainous areas bordering Afghanistan.
Islamabad accuses Afghanistan of failing to expel militants who use Afghan territory to launch attacks on Pakistan, an accusation denied by authorities in Kabul.
The TTP and its affiliates are behind most of the violence — largely directed at security forces.
READ ALSO:Afghanistan’s Taliban Release US Citizen
Earlier this year, a UN report said the TTP “receive substantial logistical and operational support from the de facto authorities”, referring to the Taliban government in Kabul.
Pakistani Defence Minister Khawaja Muhammad Asif told parliament on Thursday that several efforts to convince the Afghan Taliban to stop backing the TTP had failed.
“We will not tolerate this any longer,” Asif said. “United, we must respond to those facilitating them, whether the hideouts are on our soil or Afghan soil.”
Earlier Saturday, the TTP claimed responsibility for deadly attacks in several districts in northwest Pakistan that killed 20 security officials and three civilians.
AFP
Headline
Taliban Attacks Kill 23 In Northwestern Pakistan

The Pakistani Taliban on Saturday claimed responsibility for deadly attacks in several northwestern districts that killed 20 security officials and three civilians.
The attacks, which included a suicide bombing on a police training school, were carried out on Friday in several districts of Khyber Pakhtunkhwa province that borders Afghanistan.
Militancy has surged in Khyber Pakhtunkhwa since the withdrawal of US-led troops from neighbouring Afghanistan in 2021 and the return of the Taliban government in Kabul.
READ ALSO:Taliban Court Publicly Flogs Woman For Illicit Relationship, Running Away From Home
Eleven paramilitary troops were killed in the border Khyber district, while seven policemen were killed after a suicide bomber rammed an explosives-laden car into the gate of a police training school, which was followed by a gun attack.
Five people, including three civilians, were killed in a separate clash in Bajaur district, security officials told AFP on Saturday.
The Pakistani Taliban, the Tehreek-e-Taliban (TTP), claimed responsibility for the attacks in messages on social media. The group is separate from but closely linked with the Afghan Taliban.
The attacks came hours after Afghanistan’s Taliban government accused Pakistan of “violating Kabul’s sovereign territory”, a day after two explosions were heard in the capital.
READ ALSO:Taliban Order Closure Of Beauty, Hair Salons In Afghanistan
Pakistan did not say if it was behind the blasts in Kabul, but said it had the right to defend itself against surging border militancy.
Islamabad accuses Afghanistan of failing to expel militants using Afghan territory to launch attacks on Pakistan, an accusation that authorities in Kabul deny.
The TTP and its affiliates are behind most of the violence — largely directed at security forces.
Including Friday’s attacks, at least 32 Pakistani troops and three civilians have been killed this week alone in the border regions.
AFP
Headline
US Threatens To Sanction Countries That Vote For Shipping Carbon Tax

The United States on Friday threatened to impose sanctions and take other punitive action against any country that votes in favor of a carbon tax on maritime transportation to be implemented through a UN agency.
“We will fight hard to protect our economic interests by imposing costs on countries if they support” the Net Zero Framework, said a joint statement by US Secretary of State Marco Rubio and his counterparts at the departments of energy and transportation.
Members of the London-based International Maritime Organization (IMO) are set to vote next week on the adoption of the Net Zero Framework (NZF) agreement aimed at reducing global carbon emissions from the shipping sector.
READ ALSO:Woman Wanted Over Mutilation Of Boyfriend’s Genitals In US
Washington, however, described the proposal as imposing “a global carbon tax on the world.”
Since returning to power in January, US President Donald Trump has reversed Washington’s course on climate change, denouncing it as a “scam” and encouraging fossil fuel use by deregulation.
In the statement, Rubio, Energy Secretary Chris Wright and Transportation Secretary Sean Duffy said the Trump administration “unequivocally rejects” the NZF proposal.
READ ALSO:US To Execute Man Convicted Of Rape, Murder Of Teen
They threatened a range of punishing actions against countries that vote in favor of the framework, including: visa restrictions; blocking vessels registered in those countries from US ports; imposing commercial penalties; and considering sanctions on officials.
“The United States will be moving to levy these remedies against nations that sponsor this European-led neocolonial export of global climate regulations,” the statement said.
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