“Beware Of Fraudulent Loan Offers, Investment Schemes” — CBN Warns Bank Customers, Loan Seekers


The public has been warned by the Central Bank of Nigeria (CBN) to beware of fraudulent loan offers and investment schemes.

This was contained in a statement by the CBN acting Director of Corporate Communications, Osita Nwanisobi, on Thursday entitled ‘Beware of fraudulent loan offers, investment schemes.’

The bank warned that it does not give out its several intervention funds through direct interaction with prospective applicants.

The CBN urged loan seekers to ensure that they access the several intervention funds of the apex bank thorough participating deposit money banks, microfinance banks and development finance banks.

The statement reads:

“The attention of the CBN has again been drawn to fraudulent messages and videos in social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans or investment schemes purportedly facilitated by the bank.

“While the CBN, indeed, has several development finance intervention programmes from which different categories of businesses have benefited (and still benefitting), it DOES NOT do so through direct interaction with prospective applicants.

“For the avoidance of doubt there are clearly spelt out procedures for accessing CBN intervention funds, which are disbursed through Participating Financial Institutions (PFIs) such as Deposit Money Banks (DMBs), Development Finance institutions (DFis) and Microfinance Banks (MFBs). The Bank also does not facilitate investment schemes.

“Members of the public, particularly youth and owners of small-scale businesses, are therefore advised to disregard any video or text message proposing investment schemes or charging them fees on the pretext that their organisations are endorsed by the CBN and therefore would guarantee easy access to CBN loans.

“These videos and massages are fraudulent and anyone who enters into correspondence with those behind them does so at his or her own risk. The CBN has neither appointed nor accredited any organization to serve as agent on its behalf for the purpose of investment or applying for intervention loans.

“Prospective applicants are therefore advised to approach their respective banks, NIRSAL Micro-Finance Bank or the Central Bank of Nigeria (CBN) branch nearest to them for clarification on the procedure for accessing any of the CBN-related facility.”

READ  FOREX: CBN lifts supply with $180m…invisibles get $80m
Be the first to comment!
Leave a reply »


Leave a Response