
Major Nigerian Tier-2 Bank Loses ₦9.3b to Fraud: A Wake-Up Call for Internal Security
In late March 2025, a major Tier-2 bank in Nigeria fell victim to a massive cyber‐fraud. On March 23, 2025, attackers exploited a “massive operational failure” in the bank’s core system and within hours, ₦9.3 billion was illegally transferred from dozens of customer accounts. The stolen funds were split into