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The Nigeria Inter-Bank Settlement System has said that the amount lost to digital payment fraud in the country declined by 51 per cent to N25.85 billion in 2025 from N52.26 billion in the preceding year.
Managing Director/Chief Executive Officer of NIBSS, Premier Oiwoh, disclosed this at the 2026 Nigeria Electronic Fraud Forum (NeFF) Technical Kickoff Session held in Lagos on Wednesday, under the theme, “Shrinking Fraud Losses with ISO 20022 & Identity Management.”
Oiwoh, whose presentation at the event was titled, “Leveraging NIBSS rich payment data to reduce fraud and improve traceability,” attributed the sharp decline in the amount lost to digital payment fraud in 2025 to measures put in place in by the Central Bank of Nigeria (CBN) in collaboration with NIBSS and other stakeholders in the digital payments industry to tackle fraud.
