Nigeria’s Digital Fraud Losses Fell 51% in 2025, but Scams Are Becoming Smarter
Nigeria's digital-payment fraud losses reportedly fell from ₦52.26 billion in 2024 to ₦25.85 billion in 2025, according to NIBSS data. Reported cases also declined slightly, from 70,111 to 67,518. Lagos accounted for about 63% of the reported fraud activity, while the FCT was a distant second at roughly 3%. The decline is encouraging, but it does not mean fraudsters are giving up. Social engineering, including phishing, impersonation and account takeovers, was linked to almost half of reported cases. Banks have increased investment in AI-based monitoring and stricter customer onboarding, yet some successful attacks now result in bigger losses. One useful defence tool is a honeypot: a decoy system that attracts attackers, exposes their methods and keeps them away from real systems. Has anyone here recently spotted an impersonation or account-takeover attempt? What gave it away?
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