Headline

Bank Customers Lose N2.72bn To Fraudsters – Report

Published

2 years ago

January 29, 2023

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.

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.

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

Most Followed Tiktoker Khaby Lame Deported From US Over Visa Violation

Published

12 hours ago

June 12, 2025

Editor

Italian-Senegalese social media sensation, Khaby Lame, known as the world’s most followed TikTok creator, has been deported from the United States after allegedly overstaying his visa, The New York Times reported.

US Immigration and Customs Enforcement confirmed that Lame, 25, was detained last Friday at Harry Reid International Airport in Las Vegas.

The agency confirmed the detention in an official statement, stating that Lame entered the country on April 30 but “overstayed the terms of his visa.”

Lame, who rose to international fame for his silent comedic reactions to overcomplicated “life hack” videos, has amassed over 160 million followers on TikTok.

His online popularity led to collaborations with global fashion brands, a role in a Hollywood film, and a reality show on Tubi titled Khaby Is Coming To America.

His deportation has sparked a storm of reactions online.

“Every single illegal alien needs to be DEPORTED. When I found out the biggest TikTok star, Khaby Lame, is an illegal alien evading taxes, I worked with Trump’s ICE to have him removed. He’s since been detained by ICE and removed,” Bo Loudon, a Gen Z Trump supporter and self-styled activist, wrote on X, formerly Twitter.

Following his deportation, Lame has not issued any formal statement. However, on Monday, he posted an Instagram story tagged in São Paulo, Brazil, marking his first confirmed location since leaving the US

Lame’s former legal representative, Riccardo Lanzo, told The New York Times that the influencer had spent significant time in the US recently but acknowledged uncertainty regarding his visa status.

The case came amid a broader immigration enforcement push under Trump’s renewed administration.
APF

Headline

Trump Unveils Website For $5m US Residency Visa

Published

21 hours ago

June 12, 2025

Editor

President Donald Trump touted a new website for his planned $5 million US residency permit on Wednesday, saying the waiting list for the golden visa has opened on TrumpCard.gov.

“Thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World,” Trump wrote in a social media post.

Trump unveiled the first such visa aboard Air Force One in April, holding a golden prototype that bore his face and promising the special permit would probably be available “in less than two weeks.”

The visas are not available yet, but the website announced Wednesday allows interested parties to submit their name, desired visa and email address under a header that says “The Trump Card is Coming.”

Trump previously said the new visa, a high-price version of the traditional green card, would bring in job creators and could be used to reduce the US national deficit.

The announcement comes as deportation raids are being ramped up across the country, prompting protests, and as Trump’s administration faces ongoing lawsuits and accusations of rights violations over its anti-immigration blitz.

Trump has said the new card would be a route to highly prized US citizenship. He said in February that his administration hoped to sell “maybe a million” of the cards and did not rule out that Russian oligarchs may be eligible.

AFP

Headline

19-year-old Nigerian Artiste Beaten To Death In Ghana

Published

1 day ago

June 11, 2025

Editor

A 19-year-old upcoming Nigerian artiste identified simply as Destiny has been beaten to death in the Volta Region area of Ghana.

According to The PUNCH, the incident happened on May 28.

It was gathered that a yet-to-be-identified Nigerian based in Ghana accused him of failing to remit funds related to a business venture they introduced him to.

The male adult, who was also said to be among those who facilitated his trip to the country, stormed his apartment alongside two others to question him about the funds.

However, Destiny’s failure to provide answers led to a severe assault meted out to him.

A source privy to the incident told The PUNCH on Tuesday on the condition of anonymity because he lacked the authority to speak with the media that the Edo State-born artiste thereafter succumbed to the injuries sustained from the assault.

“Destiny went to Ghana to further his education, and the travel was facilitated by someone he called his street brother. These are the same people who provided an apartment for him over there. Those who broke the news to us from there said the men introduced him to a business, which they later accused him of diverting some funds meant for the business. This angered them, and they went to his apartment and beat him up. The beating was so intense that he felt weak and gave up the ghost in the process,” the source narrated.

It was further learnt that the suspects left the deceased’s body in the room after they discovered that he was motionless.

Another source who spoke to newsmen said the police later discovered the corpse a few days after the incident.

“The police were alerted to the incident, and some officers were deployed to the apartment where Destiny’s remains were found. We were told that no suspects had been arrested since his death. We hope the Ghanaian authorities find his killers and bring them to justice.”

In a video obtained by The PUNCH, Destiny was seen speaking about himself and what his plans were.

He said, “I am Destiny and I am a streamer from Nigeria. I want to apply to Streamers University, and this will be a great joy for me, my mother, and everybody. I am also an artiste and a gamer. I do all sorts of things.”

Recall that in April a 77-year-old Nigerian Uber driver, Olatunji Bolaji, was killed in a shooting outside a hookah lounge in Philadelphia, United States.

Bolaji, who lived in Norristown, Pennsylvania, was on duty around 2 a.m. on Wednesday when he picked up a passenger, a 22-year-old man, outside the Byblos Hookah Bar near Rittenhouse Square in Centre City, CBS reports on Friday.

Police said shortly after Bolaji picked up the young man, another vehicle pulled up behind his SUV, and two men got out.

One of them opened fire, shooting both Bolaji and the passenger.