Access Holdings Fraud Loss jumps to ₦1.64bn in H1 2025 as forgery and cybercrimes surge, denting profits despite strong gross earnings
Lagos, Nigeria – Access Holdings Fraud Loss has surged dramatically to ₦1.64 billion in the first half of 2025, according to the group’s newly released financial statements.
Also read: Access Bank CEO Roosevelt Ogbonna buys £15m mansion on London’s ‘Billionaire’s Row’
The figure marks a steep rise from ₦464 million reported during the same period in 2024, reflecting growing concerns over internal security lapses within Nigeria’s financial sector.
The bank’s report revealed that the losses stemmed from various fraudulent activities, including forged instruments, unauthorised electronic transfers, and cash thefts.
Specifically, Access Holdings recorded ₦831.96 million lost to forged documents, ₦617.11 million to fraudulent transfers, ₦173.12 million to cash theft, and ₦20.89 million to electronic fraud.
Despite the sharp uptick in fraud-related losses, the group maintained solid gross earnings of ₦2.5 trillion, representing a 13.81% year-on-year increase.
However, pre-tax profit dipped by 8.12% to ₦320.57 billion, while post-tax profit fell by 23.25% to ₦215.92 billion, compared with ₦281.33 billion in H1 2024.
Access Holdings Fraud Loss was compounded by operational challenges across its subsidiaries, though its flagship arm, Access Bank Plc, remained the group’s primary profit driver.
The bank posted ₦303 billion in pre-tax profit and ₦199.3 billion post-tax, accounting for the lion’s share of the holding company’s performance.
Analysts say the escalation in fraud cases signals a need for stronger compliance systems, staff accountability, and enhanced digital surveillance across Nigeria’s banking ecosystem.
While Access Holdings has continued to implement risk-control frameworks, the magnitude of the losses underscores the urgency of robust anti-fraud measures in an increasingly digitised economy.
In what many observers see as a test of institutional resilience, Access Holdings reaffirmed its commitment to transparency, security, and long-term value creation for shareholders.
The group maintained that it would continue refining its operational processes to mitigate fraud exposure and reinforce customer trust.
Also read: Access Bank CEO Roosevelt Ogbonna buys £15m mansion on London’s ‘Billionaire’s Row’
As the financial sector faces rising threats from cybercrime and internal fraud, Access Holdings’ experience this year serves as both a cautionary tale and a wake-up call to the industry at large.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
