Banks lost N2.4 trillion to fraud and forgeries perpetrated by staff in connivance with fraudsters in 2016.

Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation, NDIC, Alhaji Umaru Ibrahim, disclosed this in Abuja while delivering a lecture at the general meeting of the Abuja Chapter of the Alumni Association of the National Institute, AANI.

Meanwhile, Asset Management Corporation of Nigeria, AMCON  and the Economic and Financial Crimes Commission, EFCC, have commenced moves to prosecute banks’ staff responsible for the violation of internal processes that created N4.6 trillion non-performing loans in the banking industry.

AMCON disclosed this in a statement, yesterday, saying “In a renewed strategy to recover the whopping total debt obligation of over N4.6 trillion AMCON by recalcitrant debtors across the country, AMCON yesterday met with the EFCC.

“The high-level meeting of the two government agencies led by AMCON Managing Director/CEO, Mr. Ahmed Kuru, and EFCC’s acting Chairman, Mr. Ibrahim Magu is to take another look at some banks and their officials that were instrumental to the abuse and violation of internal processes that led to the huge non-performing loans in AMCON’s portfolio.”