Investigation Exposes Platform Used to Create Fake Transfer Receipts in Nigeria
An investigation has uncovered an online platform allegedly used to generate convincing fake transfer receipts and impersonate Nigerian fintech services. The tool can make it appear that a payment has been completed even when no money reaches the recipient. Traders in markets across Nigeria say delayed bank alerts and network failures make them vulnerable to this type of fraud. In a survey of 330 traders, 52% said they had encountered fake transactions, while some said repeated losses had made them stop accepting transfers. The investigation found that the platform also offered features linked to fraudulent emails and imitation account interfaces. Kuda confirmed that elements of its brand were being impersonated, while OPay had not responded at the time of publication. Legal experts warn that creating or using false electronic receipts to obtain goods or money may amount to computer-related forgery, fraud and related offences under Nigerian law. Traders are advised to confirm that funds have entered their account before releasing goods.
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