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NDIC to investigate Banks’ failure to file returns on fraud cases, as theft peaked ₦12.01bn in 2017 

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By Joseph INOKOTONG
The Nigeria Deposit Insurance Corporation (NDIC) is to investigate some banks for the inadequate rendition of returns to the Corporation on fraud, forgeries, and cases involving members of their staff who were either dismissed or had their appointments terminated on grounds of fraudulent activities.
Section 35 and 36 of the NDIC Act No. 16 of 2006 (as amended) requires all Deposit Money Banks (DMBs) to submit monthly information/returns on fraud and forgeries to the Corporation.

The NDIC made the decision because most recent report from its Off-Site Supervision of the DMBs revealed the number of fraud cases attributed to internal abuse by staff of banks increased from 231 in 2016, to 320 in 2017, or 38.53% above the figure reported for the previous year.

The report relied on a total 286 responses received from 26 banks during the period. There were 22 NIL monthly responses from the banks as at year ended 31st December, 2017.
A statement signed by Mohammed Kudu Ibrahim, Head, Communications and Public Affairs of the NDIC said “the 286 responses received from banks in 2017 cited 26,182 cases of fraud and forgeries which is 56.30% higher compared to 16,751 cases reported in 2016.
“Similarly, the amount involved in the fraudulent activities documented increased by ₦3.33 billion from the ₦8.68 billion reported in 2016 to ₦12.01 billion in 2017 or 38%.
“However, the Expected/Actual loss slightly-decreased by ₦24.42 million or 1.03% from ₦2.39 billion in 2016 to ₦2.37 billion in 2017.”

The statement noted that Internet/Online-banking and ATM/Card-related fraud-types reported constituted 24,266 or 92.68% of all the reported cases, resulting in ₦1.51 billion or 63.66% of losses in the Industry in 2017.

The report also documented other miscellaneous crimes such as fraudulent transfers/withdrawals, cash suppression, unauthorized credits, fraudulent conversion of cheques, diversion of customer deposits, diversion of bank charges, presentation of forged or stolen-cheques among others.

The 22 Licensed Commercial Banks and 4 Merchant banks rendered 286 Returns on Dismissed/Terminated staff as a result of fraud and forgeries during the year under review.

Out of the 26,182 fraud cases reported by the 26 Licensed Banks, 320 cases were attributable to internal collaboration by bank staff.
A total of 320 bank employees had their appointments either terminated or were summarily dismissed in 2017, as against 231 in 2016.
That represented an increase of 38.53% in the total number of fraud cases reported in 2017. However, the losses arising from the reported cases decreased from ₦760 million in 2016 to ₦682 million or about 11.43% in 2017.

The Corporation attributes the improvement to additional internal control measures adopted by the banks in the wake of the proactive corrective measures taken to ensure their compliance with good corporate governance principles.

However, despite the Fidelity Insurance Cover taken by banks to address fraud perpetrated by staff, there is still need for the banks to further enhance their internal control and security measures, as the rising trend of E-Channels (Online banking & Card-related) fraud and forgeries in the Industry remains a serious cause for concern to the Corporation.

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Hamma Ali Kumo Commiserates with APC National Secretary Over Mother’s Demise

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The Deputy National Financial Secretary of the All Progressives Congress (APC), Hon. Hamma Ali Kumo, has extended his heartfelt condolences to the National Secretary of the party and his family following the passing of his beloved mother, describing the loss as deeply painful and a moment of great sorrow for both the family and the APC.
In a condolence message, Hon. Kumo said the death of a mother is one of life’s greatest tragedies, noting that while death is an inevitable part of human existence, the departure of a loving and caring mother leaves an irreplaceable void in the hearts of her children and loved ones.
He described the late matriarch as a virtuous woman whose life was marked by humility, compassion, sacrifice and unwavering devotion to her family and faith, adding that her moral values and guidance were instrumental in shaping the exemplary character and leadership qualities of the APC National Secretary.
According to him, the deceased lived a fulfilled life dedicated to nurturing her family, serving humanity and upholding the principles of righteousness, leaving behind a legacy that would continue to inspire future generations.
Hon. Kumo urged the National Secretary and the entire bereaved family to remain steadfast in their faith and find comfort in the knowledge that Allah gives life and takes it at His appointed time.
He prayed that Almighty Allah, in His infinite mercy, forgives all the shortcomings of the deceased, accepts her good deeds, grants her peace and comfort in the grave, expands and illuminates her resting place, and admits her into Al-Jannatul Firdaus.
The APC chieftain also prayed for Allah to grant the bereaved family the strength, patience and fortitude to bear the painful loss.
“On behalf of my family and supporters, I sincerely sympathise with our National Secretary and the entire bereaved family during this difficult period. May Almighty Allah (SWT) forgive our dear mother’s sins, shower His endless mercy upon her, grant her the highest place in Al-Jannatul Firdaus, and bless the family with Sabr Jameel to endure this painful loss. Ameen,” Hon. Kumo said.

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DSS Moves Against Agbo, over Alleged impersonation as Benue PDP Guber candidate

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The operatives of the Department of State Security Services, DSS has laid a manhunt on embattled former Chairman of the Peoples Democratic Party, PDP in Benue State, over Alleged impersonation.

A highly placed Security source on Thursday, confirmed to our correspondent that the service is currently looking for Dr. Emmanuel Agbo for impersonating himself as the Governorship candidate of the People’s Democratic Party in Benue state.

The source said that Dr. Agbo, must be interrogated to enable the service have an idea were his candidature was decided as well as venue it took place.

He further added that from preliminary findings Agbo, is playing a role of a ” useful idiot ” been sponsored by political bigwigs in the state that must be unravel by the service.

He queried that all the primary election that took place across the 36 states of the Federation including the Federal Capital Territory was monitored by the DSS and reports were filed including that of Benue State which officially in the PDP, the former Attorney General of the Federation and Minister of Justice, Michael Kaase Aondoakaa, SAN emerged.

Already, a political pressure group has petitioed, Dr. Emmanuel Agbo who they Alleged he is now parading a “fake” Certificate of Return as the party’s candidate is just an “impostor” who didn’t participate in the party’s primaries in May, 2026.

“The Certificate of Return which the disbanded Turaki-led Interim National Executive Council presented to Dr. Agbo yesterday is fake and will not be recognized by the Independent National Electoral Commission during the uploading of party candidates on their portal” the group noted.

The group however challenged Agbo to present evidence that he partook in the said primaries, and also make available proofs that representatives of the Independent National Electoral Commission, officials of the party from Abuja as well as representatives of Nigeria’s security agencies were present in his own selection process if there is any.

The group stated further that there are proofs that Dr. Emmanuel Agbo is being sponsored by some “disgruntled” elements to ruin the chances of the People’s Democratic Party in the forthcoming governorship election in Benue state.

The statement reads in parts:”Emmanuel Agbo has been warned to desist from this act of impersonation before it’s too late, and if he fails to stop this act, we shall drag him before a competent court to face criminal charges.

“That he is being sponsored to ruin the chances of the party is no longer a secret but, we will make sure that we stop him and his co-travellers who are hell bent on destroying the party”

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EUYI Alleges Secret Recruitment, Job Racketeering in JAMB Ahead of Oloyede’s Exit

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The Empowerment for Unemployed Youth Initiative (EUYI) has raised concerns over an alleged recruitment exercise conducted by the Joint Admissions and Matriculation Board (JAMB), claiming that more than 100 employment letters were issued in June 2026, barely six weeks before the expiration of the tenure of JAMB Registrar, Professor Ishaq Oloyede.

In a statement signed by its National Coordinator, Comrade Danesi Momoh Prince, and Secretary, Comrade Igwe Ude-Umanta, the group described the alleged recruitment exercise as secretive and called on relevant government agencies to investigate the matter.

According to EUYI, the recruitment process was allegedly carried out without public advertisement and may have violated established procedures governing employment into federal public institutions.

The organisation argued that the timing of the recruitment raises questions, particularly following President Bola Ahmed Tinubu’s appointment of Professor Segun Aina as the incoming Registrar of JAMB, effective July 30, 2026.

“There is no apparent urgency that would justify a major recruitment exercise by an administration that has only a few weeks remaining in office,” the statement said.

EUYI further alleged that previous recruitment exercises conducted during Professor Oloyede’s tenure had attracted public controversy and scrutiny from the National Assembly, although the JAMB management had maintained that it obtained the necessary approvals from the Federal Character Commission (FCC).

The group contended that if the latest allegations are confirmed, the exercise could amount to violations of constitutional and statutory provisions governing public sector recruitment. It cited Section 14(3) of the Constitution of the Federal Republic of Nigeria and relevant provisions of the Federal Character Commission Establishment Act, which emphasize equitable representation, transparency, and compliance with federal character principles in public service appointments.

The advocacy group also called on the Federal Character Commission to clarify whether it approved the alleged recruitment exercise and, if so, whether all legal requirements were met before employment letters were issued.

In addition, EUYI urged anti-corruption agencies, including the Independent Corrupt Practices and Other Related Offences Commission (ICPC), to investigate possible cases of nepotism, abuse of office, or other irregularities should evidence emerge to support such claims.

The organization stated that illegal recruitment practices and job racketeering have contributed significantly to the frustrations of millions of unemployed Nigerians, arguing that employment opportunities in public institutions should be transparent, merit-based, and accessible to all qualified citizens.

EUYI gave JAMB a three-day ultimatum to respond to the allegations and provide clarification regarding the reported recruitment exercise.

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