Quoted by the Nigerian news agency Peoples Gazette, Helen Isiguzu, a user of one of the new generation banks, commented that she was not surprised by the statements of the Central Bank of Nigeria about the large sums of money in the hands of the population outside these financial facilities.

On the other hand, Babatunde Irukera, executive vice chairman of the Federal Competition and Consumer Protection Commission, reported that they were collaborating with banks to address consumer-related issues.

Similarly, the Economic and Financial Crimes Commission (EFCC) confirmed that most of the bank frauds investigated showed that employees of the banking facilities themselves assisted in the fraudulent theft of money.

Abbah Sambo, head of cybercrime at the EFCC, said that banks’ ICT staff usually carried out such withdrawals.

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