CBN Raises Alarm as Digital Fraud Soars, Accounting for 70% of Financial Crimes in Nigeria
July 11, 2025 The Central Bank of Nigeria (CBN) has raised concern over the alarming rise in financial fraud across the country, revealing a 45% increase in fraudulent activities within the first half of 2025. Even more troubling, the apex bank disclosed that 70% of the total financial losses were perpetrated through digital platforms. This