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More Bank Staff Committing Fraud — NDIC

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Nigeria Deposit Insurance Corporation (NDIC) says the number of fraud cases attributed to internal abuse by staff of banks increased from 231 in 2016 to 320 in 2017.

Mr Mohammed Ibrahim, Head, Communications and Public Affairs of NDIC, said in a statement in Abuja on Sunday that the figure was in the organisation’s recent report on off-site supervision of the Deposit Money Banks (DMBs).

“The report relied on a total of 286 responses received from 26 banks during the period and there were 22 NIL monthly responses from the banks as at year ended Dec. 31, 2017.

“The 286 responses received from banks in 2017 cited 26,182 cases of fraud and forgeries which is 56.30 per cent higher compared to 16,751 cases reported in 2016.

“Similarly, the amount involved in the fraudulent activities documented increased by N3.33 billion from the N8.68 billion reported in 2016 to N12.01 billion in 2017 or 38 per cent.

“However, the expected/actual loss slightly-decreased by N24.42 million or 1.03 per cent from N2.39 billion in 2016 to N2.37 billion in 2017.”

Ibrahim said Internet/Online-banking and ATM/Card-related fraud-types reported constituted 24,266 or 92.68 per cent of all the reported cases, resulting in N1.51 billion or 63.66 per cent of losses in the industry in 2017.

He said the report also documented other miscellaneous crimes, such as fraudulent transfers/withdrawals, cash suppression, unauthorised credits and fraudulent conversion of cheques.

Others are diversion of customer deposits, diversion of bank charges and presentation of forged or stolen-cheques.

He said that 22 Licensed Commercial Banks and four Merchant banks rendered 286 returns on dismissed/terminated staff as a result of fraud and forgeries during the year under review.

Ibrahim said 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 per cent in the total number of fraud cases reported in 2017.

“However, the losses arising from the reported cases decreased from N760 million in 2016 to N682 million or about 11.43 per cent in 2017.”

Ibrahim said that NDIC attributed 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.

He said NDIC would investigate some banks for inadequate rendition of returns on instances of fraud, forgeries and cases involving members of staff dismissed or their appointments terminated on grounds of fraud.

He said that NDIC made the decision in light of the increase the report revealed.

He said that Section 35 and 36 of the NDIC Act No. 16 of 2006 (as amended) requires all DMBs to submit monthly information/returns on fraud and forgeries to the corporation.

He said in spite of the Fidelity Insurance Cover taken by banks to address fraud perpetrated by staff, there was still need for the banks to further enhance their internal control and security measures.

He said this was because of the rising trend of E-Channels (Online banking and Card-related) fraud and forgeries in the industry which remained a serious cause for concern to the organisation. (NAN)

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Family Marks one-year Memorial of Late APC Chieftain, Ojougboh with Charity Outreach

By Ikenna Oluka

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Mrs. Bose Ojougboh
Mrs. Bose Ojougboh, wife of the Late Dr. Cairo Ojougboh (Centre) flanked by other members of Dr. Cairo Ojougboh Foundation during the outreach programme.

The family of the late chieftain of the All Progressives Congress (APC), Chief Dr. Cairo Ojougboh, led by his wife, Mrs. Bose Ojougboh, marked his one-year memorial anniversary with a series of charitable initiatives aimed at honoring his legacy of philanthropy and service to society.

The memorial activities included the donation of school books and bags to pupils of Erigbe Primary School, in Agbor within the Ika South Local Government Area (LGA) of Delta State, where Dr. Ojougboh had received his early education.

The outreach also included extension of financial assistance to patients at Central Hospital, Agbor, and the provision of toiletries, cash, and food items to children at the Salve Regina Children’s Home, Agbor.

The outreach was carried out under the ‘Dr. Cairo Ojougboh Foundation’, a family-led initiative established to immortalise him and continue his lifelong commitment to education, healthcare, and social welfare.

Speaking during the event which took place recently, Mrs. Ojougboh reaffirmed the family’s dedication to sustaining the ideals of the late APC chieftain, describing him as a man who strongly believed in education and giving back to society.

“We are here to celebrate the life of my husband, Late Dr. Cairo Ojougboh, who passed on a year ago. In his honour, we decided to give back to society. He was a man who valued education and was always willing to help others. It is only fitting that we continue his legacy through acts of generosity,” she stated.

Honouring his passion for education

The first visit was to Erigbe Primary School, where Dr. Ojougboh had received his early education. The Foundation distributed school bags, writing materials, and food packs to the pupils. The family encouraged the pupils to take their education seriously and strive to become responsible citizens.

Supporting patients at Central Hospital, Agbor

At Central Hospital, Agbor, Mrs. Ojougboh and her entourage moved through the medical wards, offering financial support to patients to assist with their treatment costs. The hospital staff and beneficiaries responded with prayers and words of gratitude for the kind gesture.

Reaching out to orphaned children

The outreach team also visited Salve Regina Children’s Home in Agbor where they donated cash, food items, and toiletries to the children.

Mrs. Bose Ojougboh -
members of Dr. Cairo Ojougboh Foundation during the outreach programme.

The Matron of the home expressed her deep appreciation to the Ojougboh family, commending their commitment to sustaining the late politician’s legacy of compassion and social impact.

Dr. Cairo Ojougboh’s enduring legacy

Reflecting on her late husband’s contributions to society, Mrs. Ojougboh emphasised that his legacy of generosity and service to humanity would not be forgotten.

“Dr. Cairo was a selfless man who touched many lives. His contributions to the Nigerian political landscape, his mark in Agbor Kingdom, Delta State, and the country at large, will always be remembered. He may be gone, but his impact will continue to be felt for generations,” she said.

The Dr. Cairo Ojougboh Foundation has pledged to continue supporting education, healthcare, and social welfare initiatives in his memory, ensuring that his vision for a better society lives on.

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Widows, Wives and More than 2,000 Residents of Ikeja Police Barracks Benefit from YP4T’s Initiative

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YP4T
L-r: Alex Oware, Director, YP4T; a beneficiary; Dr. Love V. Tinuoye (C.E.O. Medvita Consultancy); Pharm. Enobong S. Useh (M.D. Medvita Pharmacy and Stores LTD); Mrs Jumoke Elom, beneficiary; Ojey Victor Benjamin, Director, YP4T.

More than 2,000 individuals from the Ikeja Police Barracks community benefited from an impactful outreach program spearheaded by Young Professionals for Tinubu (YP4T), an advocacy and support group working in alignment with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

The initiative provided critical medical services, care packages, food supplies, and financial assistance to widows, wives, and vulnerable residents, demonstrating the heart of nation-building through community-centered support.

The program, which united healthcare professionals, community organizers, and volunteers, complemented the government’s broader efforts to bring essential services closer to the people.

Residents of the Ikeja Police Barracks received free medical consultations, blood pressure and diabetes screenings, and wellness advice. Widows and families also left with care packages filled with food items, toiletries, and financial support to help alleviate the pressures of the holiday season.

Dr. Love V. Tinuoye, CEO of Medvita Consultancy and the lead doctor on-site, reflected on the impact:

“This initiative reflects a collective commitment to advancing healthcare in Nigeria. We were able to screen for and address critical health issues such as hypertension and diabetes while also providing preventive care like vaccinations and cancer screenings. This is what true community-focused care looks like.”

Beyond medical services, the outreach distributed care packages containing food staples, toiletries, and financial support, designed to alleviate the challenges faced by vulnerable members of the police barracks community.

The event highlights the ongoing efforts under the Renewed Hope Agenda to provide inclusive support for Nigerians across the country. Initiatives like this not only extend access to essential services but also strengthen the fabric of communities.

Mrs. Jumoke Elom, a businesswoman and beneficiary, shared her gratitude:

“I am deeply grateful for this program. The care my family received today—both medical and material—has given us hope and reminded us that we are not alone. It shows that there is real support for families like mine.”

The outreach program was also a platform for demonstrating the principles of nation-building through collaborative action. Alex Oware, Security Expert and Director of YP4T, explained the motivation behind the initiative: “The Renewed Hope Agenda is about about bringing real transformation to communities. This initiative embodies that vision by supporting over 2,000 people—not just through tangible resources, but by reaffirming their place in the collective growth of our nation. It lies at the soul of Renewed Hope: fostering resilience and creating opportunities for all Nigerians.”

The outreach program extended beyond healthcare, providing food and financial support to families within the police barracks. A touching moment involved a widow who, after receiving her care package, expressed her gratitude with tears of joy. Her story is just one of many that reflect the transformative power of collective action.

This initiative by YP4T—an advocacy and support group of Nigerian professionals from across the globe—represents a continued commitment to driving grassroots impact, inspired by President Tinubu’s vision. The success of the Ikeja outreach program demonstrates the power of collaboration between the public and private sectors to deliver meaningful change across Nigeria.

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Matawalle Salutes Nigerian Military, Citizens at Christmas

… Calls for Love and Peaceful Coexistence

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Bello Matawalle and Christmas
*Bello Matawalle

The Honourable Minister of State for Defence, H.E. Dr. Bello Mohammad Matawalle, has extended warm greetings to the Nigerian military and all citizens, both Christians and non-Christians, during this joyous Christmas season.

In his message, he emphasized the importance of embodying the spirit of love and peaceful coexistence, urging all Nigerians to reflect on these values not only during the festive period but throughout the year.

“This season serves as a poignant reminder of the enduring principles of peace, unity, love, and sacrifice that bind us as a nation,” he stated.

Matawalle Salutes military
Matawalle Salutes Nigerian Military, Citizens at Christmas

The Minister encouraged every Nigerian, regardless of their religious beliefs, to celebrate and honor President Bola Ahmed Tinubu, GCFR, as well as the brave men and women of the Armed Forces who tirelessly demonstrate their patriotism in safeguarding the safety and sovereignty of our beloved country.

Highlighting the significance of the yuletide season, he noted that it should reinforce our bonds of unity, foster a spirit of camaraderie, and inspire compassion towards one another. He called on all citizens to remain steadfast in their collective efforts to build a secure and prosperous Nigeria.

In conclusion, the Minister wished everyone a Merry Christmas and a Happy New Year.

Henshaw Ogubike, MNIPR, FCAI, FSCA, FCPE
Director of Information, Press and Public Relations

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