Access Holdings, GTCO, and UBA lost a combined ₦2.13 billion to fraud in 2025 despite a decline in the total number of fraud incidents.
Three of Nigeria’s largest banks — Access Holdings, Guaranty Trust Holding Company and United Bank for Africa — lost a combined ₦2.13 billion ($1.56 million) to fraud and forgery incidents in 2025, according to TechCabal.
According to TechCabal, most of the fraud cases were electronic, reflecting growing risks tied to Nigeria’s expanding digital payment ecosystem. Although total fraud incidents declined by 15.03% in 2025, the average loss per incident rose to ₦44,454 from ₦40,488 in the previous year.
The report showed that the three banks collectively spent ₦280.90 billion on technology and cybersecurity infrastructure to strengthen fraud prevention systems. Data from the Nigerian Inter-Bank Settlement System also revealed 67,518 fraud-related incidents across the banking sector in 2025.
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