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Nigerian banks commit to resolving fraud within 30 minutes, per CBN directives.
Nigeria’s top banks have pledged to respond to fraud within 30 minutes, following CBN directives aimed at cutting losses and boosting security.
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.
Despite a 51% drop in fraud losses to N25.85 billion in 2025, fraud remains a threat, with social engineering and insider abuse leading.
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.
Los bancos nigerianos se comprometen a resolver el fraude en 30 minutos, según las directivas del CBN.