Abstract: This study examines the impact of bank fraud on economic stability and public trust in Nigeria’s financial system. Drawing from empirical findings in an evaluation of fraud control measures in selected Nigerian banks and theoretical insights from Ayodeji’s work on big data analytics in fraud detection, the research reveals a systemic crisis driven by insider-related fraud, weak internal controls, and evolving cyber threats. The study adopts a descriptive survey design, utilizing quantitative methods to assess the incidence of fraud, the effectiveness of existing control mechanisms, and the challenges inhibiting fraud prevention. Findings show that while some fraud control measures, such as KYC/AML compliance, are moderately effective, others, particularly whistleblowing policies and employee training, are inadequately implemented. Major obstacles include poor oversight, lack of technological infrastructure, and low organizational commitment. Visual data analysis using waterfall charts illustrates the distribution of fraud types, control effectiveness, and implementation challenges. The study recommends a multi-layered response involving staff training, real-time fraud detection technology, whistleblower protections, and regulatory collaboration. It concludes that tackling bank fraud in Nigeria requires systemic reform, technological innovation, and a cultural shift toward transparency and accountability to restore public confidence and ensure financial sector resilience.