Four banks lost N1.77bn to fraud in 2021, says report

Four Nigerian deposit money banks lost a total of N1.77bn to fraudulent activities involving the banks’ employees and consumers in 2021. This was contained in the 2021 financial statements of the banks. The banks are Access Bank Plc, Guaranty Trust Bank Plc, First Monument City Bank, and Wema Bank. The Nigeria Inter-Bank Settlement System, a…