The rate of increase in fraud cases and the attendant decline in performance of the Deposit Money Banks listed in Nigeria demand urgent examination into the phenomena. In order to appreciate the probable nexus between fraud and performance of Deposit Money Bank in Nigeria, this scholarly work demonstrated the influence of fraud on the performance Deposit Money Bank in Nigeria. In doing this, the study used correlational and expo facto research design, utilizing secondary data pooled out from the Nigerian Deposit Insurance Commission (NDIC) and published financial reporting of the DMBs. The study targeted all the 29 DMBs (comprising of, 5 Merchant Banks and 2 Non-Interest Banks and 22 Commercial Banks) as at 2019 as published by NDIC for ten years period of (2010-2019). Multiple regression methods was deployed to calculate approximately the model of the work. Results from the study demonstrated that fraud triangle and diamond theories (measured by expected loss from loss from fraud, number of fraud cases and staff participation in deception scheme) have negative and significant effect on performance (measured by ROA) of DMBs in Nigeria. Flowing from the result, this scholarly work has suggested that DMBs have a duty to put in place effective and efficient internal control procedures and establishment of workable fraud unit or department that is saddled with the responsibility of detecting and scrutinizing operational activities that may possibly be prone to fraud. In this way, bank assets would be safe-guarded and, consequently enhanced performance.