Electronic Bank Fraud in Nigeria: the need to Enhance Customers Trust


Ajayi, Foluso Isaac , Oloyede, John A. , Adejayan Adeola O ,

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Volume 10 - April 2021 (04)


This study examined the impact of electronic bank fraud on customers’ trust in Nigeria with the aim of finding ways to enhance customers trust in the banking sector. Primary data was used for the study through structured questionnaire. The study employed logit regression as method to analyse the data. The result revealed that ATMF is significant and positively related to CT, MOBF and WEBF were insignificant and negatively related to CT while POSF exerted a positive and insignificant relationship with CT. Findings from the study further revealed that mobile fraud and website fraud posed more threat to customers’ trust in electronic payment channels than ATM and POS. The study concluded that electronic fraud has significant relationship with customers’ trust in Nigeria. The study therefore recommended that Banks should increase their security layers and ensure continuous enlightenment of customers on the need to safeguard their PINs. Bank customers should avoid replying unsolicited text messages and mails while the CBN should provide adequate security measures for various electronic payment channels so as to enhance customers’ trust.


Electronic Fraud, Customers’ trust, Automated Teller Machine, Mobile Banking, Web Purchases, Fraudsters, Bank Customer, Payment Channels.


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