Deposit banks loss N1.77billion

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.

According to the statements, transactions via mobile channels increased significantly by 164.4 per cent in 2021 to N8.06trn as against N3.05trn recorded in 2020.