CBN cautions Nigerians against fraudulent loan offers

The Central Bank of Nigeria (CBN) has warned Nigerians against fraudulent loan offers. In a press statement made available to NEWSVERGE, CBN states that its attention ‘’has been drawn to fraudulent messages in the social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government through an e-mail address ([email protected]) purportedly being handled by the Central Bank of Nigeria (CBN).’’

It clarified that ‘’while the CBN, indeed, has several development finance intervention programmes from which different categories of businesses have benefitted (and still benefit), the bank 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 statement added.

The bank therefore advised small scale business owners and members of the public ‘’to disregard any message requesting them to send their personal details, including mobile phone numbers, to emails such as [email protected] or any other one that may be contrived’’.

‘’These messages are fake and anyone who enters into correspondence with them does so at his or her own risk. Prospective applicants are advised to approach their respective banks or the Central Bank of Nigeria (CBN) branch nearest to them for clarification on the procedure for accessing any of the CBN-related loans’’.