Abass Adekunle Adewale*

Department of Finance, Federal University Oye Ekiti, Nigeria

Rebecca Folake Bank-Ola

Department of Finance, Adeleke University Ede, Osun State, Nigeria

DOI: https://doi.org/10.19184/jauj.v24i1.60003 

ABSTRACT 

This study investigates the effect of electronic fraud on economic stability in Nigeria over the period 2013–2025, against the backdrop of growing reliance on digital banking channels that has increased both financial inclusion and vulnerability to cyber-related crime. The study adopts an ex-post facto research design and relies on annual secondary data obtained from the Central Bank of Nigeria Statistical Bulletin and the Financial Institutions Training Centre, representing the population of electronic fraud incidents across major transaction channels such as ATM, POS, mobile, and web banking. Descriptive statistics, correlation analysis, and Ordinary Least Squares regression were employed to examine trends and estimate the effects of fraud indicators on economic performance. The results reveal that POS fraud has a statistically significant negative impact on economic growth, while ATM, mobile, and web fraud exhibit positive but statistically insignificant influences. Inflation also shows a negative yet insignificant effect on economic outcomes. Descriptive analysis indicates rising variability and increasing occurrences of mobile and web fraud, underscoring persistent weaknesses within Nigeria’s digital financial ecosystem. The study concludes that strengthening POS security systems, enhancing regulatory oversight, and improving fraud detection frameworks are essential for mitigating e-fraud risks and promoting sustainable economic stability in Nigeria.

Keywords: Economic Stability; Electronic Fraud; Nigeria; Ordinary Least Squares

ABSTRAK

Studi ini menyelidiki efek penipuan elektronik terhadap stabilitas ekonomi di Nigeria selama periode 2013–2025, dengan latar belakang meningkatnya ketergantungan pada saluran perbankan digital yang telah meningkatkan inklusi keuangan dan kerentanan terhadap kejahatan terkait dunia maya. Studi ini mengadopsi desain penelitian ex-post facto dan mengandalkan data sekunder tahunan yang diperoleh dari Buletin Statistik Bank Sentral Nigeria dan Pusat Pelatihan Lembaga Keuangan, yang mewakili populasi insiden penipuan elektronik di seluruh saluran transaksi utama seperti ATM, POS, seluler, dan perbankan web. Statistik deskriptif, analisis korelasi, dan regresi Kuadrat Terkecil Biasa digunakan untuk memeriksa tren dan memperkirakan efek indikator penipuan terhadap kinerja ekonomi. Hasilnya mengungkapkan bahwa penipuan POS memiliki dampak negatif yang signifikan secara statistik terhadap pertumbuhan ekonomi, sedangkan penipuan ATM, seluler, dan web menunjukkan pengaruh positif tetapi tidak signifikan secara statistik. Inflasi juga menunjukkan efek negatif namun tidak signifikan terhadap hasil ekonomi. Analisis deskriptif menunjukkan meningkatnya variabilitas dan meningkatnya terjadinya penipuan seluler dan web, menggarisbawahi kelemahan yang terus-menerus dalam ekosistem keuangan digital Nigeria. Studi ini menyimpulkan bahwa memperkuat sistem keamanan POS, meningkatkan pengawasan peraturan, dan meningkatkan kerangka kerja deteksi penipuan sangat penting untuk mengurangi risiko e-fraud dan mempromosikan stabilitas ekonomi yang berkelanjutan di Nigeria. mengurangi risiko e-fraud dan mempromosikan stabilitas ekonomi yang berkelanjutan di Nigeria.

Keywords: Ordinary Least Squares; Penipuan Elektronik; Stabilitas Ekonomi

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