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flag Nigerian banks commit to resolving fraud within 30 minutes, per CBN directives.

flag Nigeria’s top banks have pledged to respond to fraud within 30 minutes, following CBN directives aimed at cutting losses and boosting security. flag The move, part of the Nigeria Electronic Fraud Forum’s ongoing efforts, supports faster recovery, improved identity verification via BVN and NIN integration, and adoption of the ISO 20022 standard. flag Despite a 51% drop in fraud losses to N25.85 billion in 2025, fraud remains a threat, with social engineering and insider abuse leading. flag The CBN and NIBSS stress the need for real-time monitoring, stronger telecom collaboration, and continued industry-wide coordination to safeguard Nigeria’s digital financial system.

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