The Nigeria Electronic Fraud Forum Awards, an initiative of the Central Bank of Nigeria in strategic partnership with the Nigeria Interbank Settlement System Plc, stands as one of the most esteemed recognitions within the nation’s financial services sector. Designed to spotlight excellence in the prevention, detection, and mitigation of electronic fraud, the awards underscore the industry’s shared responsibility in preserving trust and integrity across the digital payment landscape.
At the 2018 edition of the forum’s annual awards ceremony, Access Bank’s Fraud Desk was conferred the prestigious title of Overall Best Fraud Desk, a distinction reserved for the institution that demonstrated exemplary operational capacity and innovation in the fight against electronic financial crimes. The bank’s success reflected its implementation of an agile, technology-driven fraud monitoring infrastructure, its strategic focus on early detection, and a culture of continuous improvement in security response protocols.
In previous editions of this award, esteemed institutions such as First Bank of Nigeria, winner of the Best Fraud Desk in 2017, and Skye Bank, recognized as the Most Committed Watch Listing Bank in 2016, have been honored for their commitment to fraud prevention. The inclusion of Access Bank in this prestigious league of winners marks a significant and welcome development in the financial sector. It reflects a growing, collective effort among stakeholders to minimize fraud losses and uphold the integrity of our financial system.
A defining characteristic of the NeFF Awards is the rigorous evaluation process that precedes the selection of winners. Conducted through a methodical performance-based survey by the Central Bank of Nigeria in collaboration with NIBBS, the assessment measured a variety of critical indicators ranging from internal fraud resolution timelines and reporting structures to cooperative engagements with law enforcement agencies. This ensures that recognition is earned not by anecdotal success but through demonstrable, data-backed performance.
Beyond its ceremonial value, the Nigeria Electronic Fraud Forum functions as an essential pillar of strategic coordination within the financial ecosystem. As a quarterly convergence of banks, regulatory bodies, payment processors, and technology providers, the forum fosters dialogue around emerging fraud patterns, facilitates knowledge exchange, and drives the formulation of unified counter-fraud strategies. Its work serves not only to build sectoral resilience but also to nurture public confidence in Nigeria’s digital financial architecture.
Over the years, Mr. Dipo Fatokun, Chairman of the Nigeria Electronic Fraud Forum and Director of the Banking and Payment System Department at the Central Bank of Nigeria, has highlighted the indispensable role of awareness in any successful fraud prevention strategy. Emphasizing that such awareness must permeate every layer of the financial system, from consumers and frontline staff to executives and technical units, if institutions are to counter the increasingly complex nature of cyber-enabled threats effectively.
The 2018 edition of the NeFF Awards reaffirmed the imperative for institutions to invest in innovation and be collaborative. As digital transactions thrive and financial technologies grow more sophisticated, the threats they attract are also evolving in complexity. It is within this context that the NeFF Awards serve as both recognition and a rallying call, a benchmark for excellence and a reminder of the industry’s collective obligation to uphold security, transparency, and customer trust.
