GTCO Reports ₦1.48 Billion Fraud Losses in H1 2026 Despite Fewer Cases

GTCO reported ₦1.48 billion in actual or expected fraud-related losses in the first half of 2026, despite recording fewer fraud and forgery incidents than it reported for the whole of 2025. The bank disclosed 9,730 incidents in the six months to June 2026, involving ₦3.05 billion. This compares with 15,469 incidents involving ₦2.58 billion in the full year 2025. Fraud losses in 2025 stood at ₦269.4 million. The comparison covers different time periods, but the figures suggest that fraud attacks are becoming more costly. GTCO's loss rate rose to about 48.6% of reported naira fraud exposure, compared with roughly 10.5% in 2025. If the first-half trend continues, the group could record nearly ₦3 billion in fraud losses for the full year. The disclosure was made under the Central Bank of Nigeria's corporate-governance requirements.

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