Ecobank cautions customers on fraud risks during Yuletide

• Published On: 25 December 2024 at 10:20

Ecobank Nigeria has urged customers to be wary of fraudsters during the holidays, while ensuring continuous access to banking services through its digital platforms.

Adeola Ogunyemi, Head of Consumer Banking at Ecobank Nigeria, confirmed this, assuring customers that they could conduct shopping and transactions seamlessly through the bank's digital channels.

Ogunyemi emphasised the bank's ongoing commitment to digital transformation, which focusses on improving the customer experience and providing alternative access to banking services.

Ecobank Nigeria, a member of the Ecobank Group, a well-known pan-African banking group, offers a wide range of financial services to individuals, businesses, corporations, and investors.

The bank has over 240 branches and 35,000 Xpress Point locations across Nigeria.

Banks in Nigeria reported staggering N42.33 billion in fraud-related losses in the first two quarters of 2024, with increases across all payment channels except mobile fraud.

Data from the Financial Institutions Training Centre's Q1 and Q2 2024 Fraud and Forgeries report show a concerning trend, with losses increasing across all channels except mobile fraud.