https://ir.nilds.gov.ng//handle/123456789/402 2026-04-28T15:56:13Z 2026-04-28T15:56:13Z Ejalonibu, Ganiyu Obot, Etimbuk Nandi, Livinus https://ir.nilds.gov.ng//handle/123456789/3473 2026-03-18T07:52:33Z 2026-01-01T00:00:00Z

Electronic Payment Fraud Trends in Nigeria’s Banking Sector — 2025 Data, Emerging Risks, and Legislative Imperatives Ejalonibu, Ganiyu; Obot, Etimbuk; Nandi, Livinus In 2025, Nigerian banks and financial institutions recorded losses of ₦25.85 billion to electronic payment fraud, representing a significant 51% reduction from the ₦52.26 billion lost in 2024, according to data presented by the Nigeria Inter-Bank Settlement System (NIBSS) at the 2026 Nigeria Electronic Fraud Forum (NeFF). The number of reported fraud cases also declined to about 67,515 in 2025, continuing a five-year downward trend. These improvements reflect coordinated efforts by regulators, financial institutions, and security agencies, as well as progress in identity management initiatives such as the Bank Verification Number (BVN) and its integration with the National Identification Number (NIN). Notwithstanding these gains, electronic payment fraud in Nigeria is becoming more sophisticated, targeted, and technologically enabled. High-value, low-volume fraud, particularly through internet banking, continues to generate disproportionate losses, while social engineering tactics, insider collusion, SIM swaps, phishing, and account compromises remain dominant threat vectors. Emerging digital channels, including mobile banking and e-commerce platforms, are increasingly exploited by fraudsters, raising concerns that existing safeguards may be outpaced by innovation. Additionally, declining institutional reporting raises the risk of underreported incidents, weakening system-wide situational awareness and response capacity. Unchecked, evolving digital fraud threatens public confidence in Nigeria’s payment systems, undermines financial inclusion objectives, and poses systemic risks to the stability and integrity of the financial sector. While regulatory initiatives have reduced losses, gaps persist in compliance, reporting, enforcement, consumer protection, and data-sharing frameworks. As Nigeria aligns its payments infrastructure with global standards such as ISO 20022 and confronts emerging threats including artificial intelligence–enabled fraud and deep fake social engineering, stronger legislative oversight and forward-looking legal frameworks are essential. The National Assembly is therefore kindly urged to: 1. Convene a public oversight hearing in 2026 through the House Committee on Digital and Electronic Banking to examine drivers of electronic payment fraud, assess existing detection and response mechanisms, and identify regulatory and enforcement gaps, with participation from NIBSS, CBN, NFIU, banks, payment service providers, and security agencies. 2. Mandate quarterly fraud reporting by the CBN and NIBSS to the relevant House Committee, detailing fraud value and volume by channel, institutional compliance with reporting obligations, and enforcement actions taken against non-compliant entities. 3. Review and strengthen existing banking and payments legislation to impose proportionate penalties for under-reporting, provide clear legal backing for industry wide fraud data sharing coordinated by NIBSS, and enhance regulatory accountability. 4. Strengthen identity management oversight by requiring periodic briefings on BVN NIN integration coverage, real-time verification gaps, and funding or legislative constraints affecting full implementation. 5. Enhance consumer protection frameworks by establishing clear timelines for complaint resolution and reimbursement, defining liability-sharing among banks, payment service providers, and customers, and reinforcing redress mechanisms for victims of electronic payment fraud. While the reduction in fraud losses in 2025 signals measurable progress, it does not constitute a definitive victory. Sustained legislative engagement in 2026 is critical to consolidating gains, addressing emerging vulnerabilities, and safeguarding Nigeria’s digital financial ecosystem. Proactive oversight and targeted reforms by the National Assembly will be pivotal to strengthening consumer confidence, preserving financial stability, and supporting the continued growth of Nigeria’s digital economy.

2026-01-01T00:00:00Z Ejalonibu, Ganiyu Ezenwajiobi, Chidinma Charity https://ir.nilds.gov.ng//handle/123456789/3469 2026-03-17T11:02:24Z 2026-02-01T00:00:00Z

Assessing the Economic Impact of Federal Government’s Economic Reforms on Nigeria’s African Ranking Ejalonibu, Ganiyu; Ezenwajiobi, Chidinma Charity Over the past few years, Nigeria has implemented a set of bold economic reforms under President Bola Ahmed Tinubu’s administration. These include removing the petroleum subsidy, unifying the foreign exchange market, fiscal consolidation, and efforts to improve revenue generation and investment frameworks. The government argues these reforms have stabilized key macroeconomic indicators and set the economy on a growth trajectory. However, Nigeria’s position relative to other African economies has fluctuated, reflecting both structural issues and external forces. Despite a GDP rebasing exercise that expanded the size of the economy and modest GDP growth in early 2025, Nigeria has continued to lag behind regional peers such as South Africa, Egypt, and Algeria in nominal GDP rankings. This brief examines the nature of these economic reforms, tracks Nigeria’s relative economic position in Africa, discusses implications for citizens and the broader economy, and highlights areas for legislative intervention to strengthen economic performance and improve national well-being. To strengthen the impact of economic reforms and shift Nigeria’s economic performance relative to African peers, this brief hereby recommends the following: i. The National Assembly through its relevant Committees, Senate and House Committee on National Planning and Economic Development, through its oversight functions may wish to advise the Federal Government through the Federal Ministry of Budget and National Planning on the need to mandate rigorous monitoring of economic diversification strategies aimed at reducing reliance on oil and expanding sectors like manufacturing, agriculture, and ICT. To establish clear performance indicators tied to GDP growth and structural transformation goals. ii. The National Assembly through its relevant Committees, Senate and House Committee on Finance and Appropriations, may wish to strengthen oversight of revenue and expenditure projections, ensuring institutional accountability in tax reforms and public finance management. Ensure budgeting for social safety nets and poverty alleviation programs to cushion vulnerable populations from the immediate impacts of structural reforms.

2026-02-01T00:00:00Z Ejalonibu, Ganiyu Ezenwajiobi, Chidinma C. Udofa, Samuel https://ir.nilds.gov.ng//handle/123456789/3465 2026-03-16T11:35:50Z 2026-02-01T00:00:00Z

An Analysis of Nigeria’s Position in the 2025 Corruption Perception Index Ejalonibu, Ganiyu; Ezenwajiobi, Chidinma C.; Udofa, Samuel According to Transparency International's 2025 Corruption Perceptions Index report released in February 2026, Nigeria ranks 142nd out of 182 countries with 26 points out of 100. This represented a slide from the 2024 CPI reports of 26 points and 140 ranking. Nigeria is also positioned as the 36th most corrupt nation on the index. The ranking places Nigeria behind 33 other African countries, spotlighting persistent governance challenges in Africa’s most populous nation. With this, Nigeria’s score remains well below the global average of 43. CISLAC reported that the ranking reflected limited progress in tackling systemic corruption despite repeated reforms and enforcement actions by government institutions. As reported by François Valérian, Chair of Transparency International, corruption is a dynamic worldwide problem that contributes to instability, deteriorating democracy, and human rights abuses in addition to undermining growth. To make real progress against corruption and to strengthen democracy in the country, Nigeria Legislature (National Assembly) needs to do more in strengthening institutions such anti-graft agencies and other institutions responsible for maintaining checks and balances as well as fighting corruption so that they can operate effectively.

2026-02-01T00:00:00Z Ezenwajiobi, Chidinma Charity Nandi, Livinus A. Udom, Martins https://ir.nilds.gov.ng//handle/123456789/1748 2025-08-05T10:45:08Z 2025-06-01T00:00:00Z

Cholera Resurgence in Nigeria: Public Health Emergency and a Need for Policy Action Ezenwajiobi, Chidinma Charity; Nandi, Livinus A.; Udom, Martins Nigerian Council for Disease Control and Prevention has reported 1,149 suspected cholera cases and 28 deaths, with a case fatality ratio (CFR) of 2.4% as of March, 2nd 2025. According to the report, Bayelsa state accounts for 66% of all suspected cases, with Southern Ijaw Local Government Area alone contributing 20% of all the national total cases. The cholera resurgence underscores persistent challenges in water, sanitation, and hygiene (WASH) infrastructure, triggered by seasonal flooding and inadequate public health responses, as well as, open defecation. This brief examines the current cholera outbreak, its underlying causes, and recommends policy interventions to mitigate future occurrences. The following recommendations, among others, were advanced by the brief: i. The National Assembly may wish to charge the Federal Ministry of Health, the Federal Ministry of Environment, as well as the Federal Ministry of Water Resources to, in collaboration with various state governments, conduct a WASH infrastructure audit in cholera-prone areas and provide community water systems especially in rural areas; ii. ii. The National Assembly may wish to advise the federal government on the need to launch Community-based Total Sanitation Programmes that would provide accessible and gender friendly toilets in public places, especially in rural communities; iii. iii. The National Assembly may also wish to summon the National Environmental Standards and Regulations Enforcement Agency (NESREA), the Federal Ministry of Environment, as well as the Federal Ministry of Water Resources to charge them towards the enforcement of laws against open defecation.

2025-06-01T00:00:00Z