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CBN cautions business owners against fraudulent loan offers, investment schemes



CBN urges Nigerians to embrace its policies to entrench macro-economic stability

The Central Bank of Nigeria (CBN) has cautioned business owners against fraudulent loan offers, especially through the social media.

Mr Osita Nwanisobi, CBN Acting Director, Corporate Communications, gave the warning in a statement on Friday in Abuja.

Nwanisobi said that the apex bank was aware that some fraudulent individuals send messages for such offers, especially through the social media.

He said that such messages requesting unsuspecting loan seekers and small business owners to apply for loans or investment supposedly facilitated by the bank were fraudulent.

“The attention of the CBN has again been drawn to fraudulent messages and videos, especially in the social media.

“They request unsuspecting loan seekers and owners of small-scale businesses to apply for loans or investment schemes purportedly facilitated by the bank,’’ Nwanisobi said.

He said that although the CBN has several development finance intervention programmes, it does not interact directly with prospective applicants.

“For the avoidance of doubts, there are clearly spelt out procedures for accessing CBN’s intervention funds which are disbursed through Participating Financial Institutions, Development Finance Institutions and Microfinance Banks.

“The bank does not facilitate investment schemes.

“Members of the public, particularly youths 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,’’ Nwanisobi said.

He advised prospective applicants for CBN’s intervention schemes to approach their respective commercial banks, NIRSAL Microfinance Banks or branches of the apex bank nearest to them.

He urged the public to contact CBN hotline – 0700255226 or email – [email protected] for further clarifications.

Kadiri Abdulrahman

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