Nigeria, Jan. 22 -- The Central Bank of Nigeria has called on banks and other financial institutions to respond faster to new electronic fraud threats, warning that criminals are becoming more sophisticated as Nigeria's digital payments space expands.



The message was delivered in Lagos on Wednesday at the 2026 Nigeria Electronic Fraud Forum Technical Kick Off Session, which brought together regulators, banks, payment service providers, identity agencies and law enforcement bodies.



Speaking at the event, the CBN said fraud patterns now go beyond basic scams, with threats such as social engineering, SIM swap attacks, insider compromise and authorised push payment fraud putting growing pressure on payment platforms.

The apex bank u...