Banking fraud costs the Nigerian economy dearly

Oludayo Tade, University of Ibadan and Oluwatosin Adeniyi, University of Ibadan Pervasive electronic banking fraud is affecting Nigeria’s banking system and costing the Nigerian economy dearly. It is also holding back the adoption of cashless technologies and has become an obstacle to financial inclusion in Africa’s second largest economy. Recent data shows that last year …

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Meet the Yahoo boys – Nigeria’s undergraduate conmen

Oludayo Tade, University of Ibadan Many undergraduates in Nigerian universities dabble in internet fraud. Nicknamed “yahoo-yahoo” after the international web portal and search engine, this perfidy has become a way of life for the young con-artists. Many of these fraudsters – dubbed “yahoo boys” – have become filthy rich. Some have been caught by the …

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