Cybercrime Techniques and Sustainable Business Growth in Deposit Money Banks in Nigeria

The study evaluated the relationship between cybercrimes and sustainable business growth of deposit money banks DMBs in Nigeria. Specifically, the study sought to: evaluate the relationship between Bank Verification Number (BVN) Scams and long-term survival of deposit money banks DMBs in Nigeria and ascertain the relationship between Cyber theft and increased market-share of deposit money banks DMBs in Nigeria. Study area was South East Nigeria. The research design of the study was descriptive survey design. The study used structured questionnaire to obtain data. The population of the study comprised of 5,450 employee of deposit money banks in South East Nigeria (National Bureau of Statistics, 2023). The selected banks for the study were First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank Nigeria and Access Bank Nigeria. The sample size of 362 respondents was drawn from population of the study using Freund and Williams sampling technique. The hypotheses stated were tested using single correlation analysis. The empirical result showed that Bank Verification Number (BVN) Scams has negative significant relationship with long-term survival of deposit money banks DMBs in Nigeria (r-statistic = -0.861; P-value 0.00 < Sig-value (0.05) and cyber theft has negative significant relationship with increased market-share of deposit money banks DMBs in Nigeria. The study recommended that management of Deposit money bank should regularly educate listed deposit money bank customers to shun fraudulent calls requesting for any sensitive information from them like their username, one-time password (OTP).