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The short answer
You do not report fraud to NIBSS directly. NIBSS runs the interbank systems such as NIP, but your bank is the institution that logs the fraud, contacts the receiving bank and asks for funds to be blocked. Report to your bank's 24-hour fraud channel as fast as possible, then escalate unresolved cases to the CBN's Consumer Protection Department and report the crime to the police or EFCC.
After a fraudulent transfer, many people search for a NIBSS number because they know the money moved "through NIBSS". That is true, but NIBSS deals with banks, not with individual customers. Speed matters more than anything else, so it is worth knowing the correct route before you need it.
What NIBSS actually does
The Nigeria Inter-Bank Settlement System runs NIBSS Instant Payment (NIP), which its own page describes as an account-number-based, real-time transfer platform that financial institutions use to offer transfers through their channels. It also offers banks tools such as name enquiry and a transaction status query. NIBSS is the infrastructure; your bank is your point of contact.
NIBSS does play a part in fraud cases, but at the bank's request or the CBN's direction. TechCabal reported on 2 December 2025 that under the CBN's draft authorised push payment (APP) fraud guidelines, the CBN may direct NIBSS or another settlement entity to withhold settlement for the full value of a suspected fraudulent transaction, and that in 2024 the CBN instructed NIBSS to debit commercial banks that received fraud proceeds.
Where to report, in order
- Your bank's fraud desk, immediately. Use the 24-hour line, the in-app report option or the fraud email on your bank's official site. The CBN required banks to set up dedicated fraud desks in 2015, according to the same TechCabal report.
- Ask the bank to contact the receiving bank. The receiving bank can place a hold on the beneficiary account if the money is still there.
- Write it down. Follow your call with an email or written complaint so you have a dated record.
- If the bank does not resolve it, escalate to the CBN. The CBN's Consumer Protection Department takes complaints after the bank has had its chance; include proof that you reported to the bank first.
- Report the crime. File with the police or EFCC; banks often ask for a police report. See reporting fraud to the police and EFCC.
Timelines in the CBN draft fraud guidelines
TechCabal summarised the CBN's draft guidelines, dated 26 November 2025, as follows. They were a draft open for comment; check the CBN website for the final version and whether it is in force.
| Step | Draft timeline |
|---|---|
| Customer reports the fraud | Within 72 hours (can be waived for illness, force majeure, unavailable channels or bank failings) |
| Bank acknowledges | Within 24 hours |
| Investigation | Concluded within 14 working days |
| Refund if due | Within 48 hours of the investigation ending |
| Cases involving several institutions | Originating institution notifies others within 30 minutes; refund within 16 working days of first report |
Under the draft, an institution that failed to flag or freeze a fraudulent transaction because its systems were inadequate bears the cost, and where neither customer nor institution is at fault the banks share it.
Worked example
Example only. Yusuf is tricked into sending ₦380,000 to a fake supplier at 10am. He calls his bank's fraud line at 10:20am and gives the beneficiary account and bank. If the receiving bank holds the beneficiary account while ₦250,000 is still there, that ₦250,000 can be protected while the case is investigated. The ₦130,000 already withdrawn (₦380,000 minus ₦250,000) becomes part of the investigation and any police case. Reporting at 4pm instead might have found nothing left.
What to have ready when you call
- The date, time and amount of each transaction.
- The beneficiary's account number, name and bank, as shown on your receipt.
- Session ID or transaction reference from the receipt.
- Screenshots of messages, calls or adverts that led to the payment.
- Your own account number; never share your PIN, password or OTP, even with the fraud desk.
More detail on the first steps: what to do in the first hour after bank fraud.
Why the receiving bank matters
In most transfer fraud the money moves from your bank, through NIP, to an account at another bank, and is then moved again or withdrawn. Only the bank holding the money can freeze it, and only after a request from your bank or a lawful instruction. That is why your report goes to your bank first, and why the CBN's draft rules focus on how fast banks notify each other. Ask your bank which institution received the money and whether a hold was placed, and write the answer down with the date and time.
Where Pryme fits
In a Pryme account, sign-in uses an authenticator app rather than SMS codes, and every payment needs your transaction PIN, which reduces the routes fraudsters use. If something goes wrong, report it through Pryme support first, as you would with any bank. See security.
Questions people ask
What is the NIBSS customer care number for fraud?
NIBSS does not handle fraud reports from individual customers. Report to your bank's fraud desk, which works with NIBSS and the receiving bank.
Can NIBSS reverse a fraudulent transfer?
Not on your request. Your bank raises the case; under the CBN's draft APP fraud rules, the CBN may direct NIBSS to withhold settlement of a suspected fraudulent transaction.
How fast should I report bank fraud in Nigeria?
Immediately. The CBN's November 2025 draft guidelines set a 72-hour reporting window, and money is easier to hold the sooner you act.
Where do I report if my bank does not help?
Write to the CBN Consumer Protection Department with proof you reported to the bank first, and report the crime to the police or EFCC.
Sources
- NIBSS: NIBSS Instant Payment (NIP) (page modified 17 Apr 2026) · accessed Oct 2026
- TechCabal: Nigerian banks must refund fraud victims within 16 working days under new CBN framework (2 Dec 2025) · accessed Oct 2026
- CBN: Complaints management (Consumer Protection Department) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.