The attention of the Central Bank of Nigeria (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 benefitted (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.
The Public is also advised to contact the Central Bank of Nigeria (CBN) on
07002255226 or send an email to [email protected] for any further
clarification.
