Major Nigerian banks have intensified warnings to customers about heightened cyber fraud activities during the festive season, advising vigilance amid a surge in digital transactions and scams.
FirstBank notified customers via email of emerging trends targeting mobile apps, wallets, and USSD channels. “Fraudsters use social engineering and fake apps to steal your banking codes while claiming to offer you some kind of assistance,” the bank stated, urging users never to share OTP, PIN, or account details and to download apps only from official stores like Google Play or Apple App Store.
Stanbic IBTC Bank posted on social media: “Scammers become more active during the holidays. Stay alert and protect your account. Please note that we will never ask you to send funds in exchange for any service or request your One Time Password, password, or PIN.” It cautioned against clicking links from unknown sources.
Union Bank echoed the alert: “Don’t let fraudsters steal your Christmas joy! Stay vigilant, verify before you take action… Union Bank will NEVER ask for your OTP, PIN, NIN, BVN, ATM card details or any personal information.”
United Bank for Africa (UBA) reminded customers: “Fraudsters don’t take a holiday. Tis the season for joy – not regrets. Stay sharp, stay protected and always verify before you engage,” while encouraging reports of suspicious activities to its Fraud Help Desk.
These alerts align with expert observations that scams proliferate during holidays due to increased online shopping, remittances, and distractions. Common tactics include phishing emails, fake giveaway messages, and malicious links posing as legitimate offers, according to cybersecurity firm Cofense.
The warnings come shortly after INTERPOL announced results from Operation Sentinel (27 October to 27 November 2025), a coordinated effort across 19 African countries that led to 574 arrests, recovery of approximately $3 million, and takedown of over 6,000 malicious links. The operation targeted business email compromise, digital extortion, and ransomware—threats highlighted as growing in INTERPOL’s 2025 Africa Cyberthreat Assessment Report, which notes cybercrimes now comprise a medium-to-high proportion of all offences in two-thirds of surveyed African nations.
Cases investigated linked to losses exceeding $21 million, with six ransomware variants decrypted. “The scale and sophistication of cyberattacks across Africa are accelerating, especially against critical sectors like finance and energy,” said Neal Jetton, INTERPOL’s Director of Cybercrime.