Nigerian Banks Warn Customers of Holiday Scams; Legal Action Taken in N10 Billion Cyberattack

Nigerian banks, including First Bank and UBA (NGX: UBA), caution customers against rising fraud attempts during the festive period, advising vigilance against phishing scams and unauthorized fund transfers. Stanbic IBTC Bank (NGX: STANBIC) and Union Bank also emphasize the need for heightened security measures.

In a legal development, accounts allegedly involved in a N10 billion cyber heist are frozen following a court order in Abuja, with individuals like Jame Akagwu and Isaac Akwubo Gosent implicated in the case.