ATM Card Theft, Mobile App Hacks, Others Surge as 152,000 Nigerian Bank Accounts Are Compromised

A surge in ATM card theft, mobile app hacks, and other cybercrimes has led to the compromise of 152,000 Nigerian bank accounts, leaving customers financially devastated. Reports from cybersecurity firm Surfshark reveal a 56% increase in cyber theft risks in the first half of 2025, impacting numerous accounts.

Social media is flooded with videos of distressed customers confronting bank staff over vanished funds, exposing significant weaknesses in bank security systems. Despite a global decline in compromised accounts, Nigeria ranks third in total data breaches, with 13 million accounts compromised since 2004.

The Central Bank of Nigeria (CBN) has pledged to investigate and sanction negligent institutions, urging affected customers to report security lapses. Analysts emphasize the need for robust security practices and regulatory oversight to protect customers in the evolving digital banking landscape.

Wema Bank has also warned customers of a new malware, Brokewell, designed to steal sensitive information.