Punch Newspapers Sections Nike Popoola The Nigeria Inter-Bank Settlement System Plc has said that more than N5bn was lost as a result of fraud in the banking sector between January and September 2020. It disclosed this in its NIBSS Insight report on ‘Fraud in the Nigerian Financial Services’. Part of the report read, “On a global scale, fraudulent activities have resulted in losses amounting to about $42bn. Approximately 39 per cent are perpetrated by external parties while 37 per cent are perpetrated by internal parties.