Nigeria: Fraud cases rise in banks

Frauds and forgeries in banks between April and June 2005, rose sharply by 48 per cent or 107 cases to 329 cases compared to 222 cases recorded in the preceding quarter. Vice Chairman/Chief Executive of Intercontinental Bank Plc Dr Erastus Akingbola citing reports from the Financial Institutions Training Centre (FITC) said the amount involved went up by 25.6 per cent, from N1.15 billion to N1.47 billion.