Fraud Alert: First Bank, Access, GTB, UBA Expose Tricks, Advise Customers To Protect Bank Accounts

Fraud Alert: First Bank, Access, GTB, UBA Expose Tricks, Advise Customers To Protect Bank Accounts

  • Nigerian banks have once again sent messages to customers to be vigilant regarding various methods used by fraudsters
  • The latest message is from First Bank of Nigeria, the oldest financial institution in the country
  • The combined customer deposits of Nigeria's biggest banks stand at over N15 trillion as of September 2023

Amid rising fraud cases, Nigerian banks have once again sent messages to customers to be vigilant.

In similar messages, the banks also provided steps on actions customers must take to avoid falling victim.

Banking fraud cases
Banks want customers to be vigilant Photo credit: Benson Ibeabuchi
Source: Getty Images

Leadership reports that Nigerians have lost a whopping N51 billion savings to banking-related fraud between 2019 and July 2023.

A breakdown showed that in the first quarter of 2023, the total fraud losses stood at N51 billion, which increased to N9.5 billion as of July 2023.

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Banks warn customers

In its message to customers, First Bank of Nigeria, one of Africa's largest private-sector financial services providers, warned customers against scams.

The message on X, formerly Twitter, noted that customers must be scam-conscious.

The post reads:

"Being scam conscious cannot be over emphasized. This season, let’s be at alert and cautious.
Please note: Do not disclose your PINs, passwords, OTPs, and other personal banking details to anyone as FirstBank will never ask for these details.
"FirstBank will never redirect you to a WhatsApp or Telegram platform to treat your complaints."

In a similar message to customers, EcoBank also said:

"Merry but at alert. Do not give out sensitive account information such as PIN numbers, user IDs and passwords or full card number.

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"Ecobank will never ask for these details."

Access Bank also warned its customers:

"Please be alert, especially at this time, and protect yourself against fraudsters by never sharing your password, BVN, and/or PIN with another person, not even an Access Bank employee, never clicking on links or opening/downloading attachments or software from unknown sources, emails, or text messages, and never responding to unsolicited messages and calls that ask for your personal information or financial details; if you are ever asked any of these, refuse and contact us immediately.

Shine your eyes, no fall mugu": NCC warns Nigerians, exposes fraudsters' tricks

Meanwhile, in another report, the NCC has received 20,000 complaints from Nigerians who have fallen victim to telecom fraud.

The commission reveals that many fraudsters pose as telecom operators or loan sharks to deceive people and extract money from them.

NCC wants Nigerians to be cautious when dealing with suspicious phone calls, messages, or requests.


Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: