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Beware of Scammers: CBN warns Nigerians of fake Contract and Loan Schemes

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The Central Bank of Nigeria (CBN) has issued a warning about fraudulent schemes circulating in the country, claiming to offer contracts, loans, grants, and other financial benefits under the guise of CBN authorisation. Despite issuing a public advisory on November 18, 2024, the CBN has noted that these schemes continue to target unsuspecting Nigerians.

According to the CBN, individuals and groups are falsely presenting themselves as agents or representatives of the bank, offering lucrative contracts and funding opportunities. However, the CBN has clarified that it does not authorise or license any individual or organisation to act as an intermediary in offering such services.

“The CBN wishes to reiterate that it has not authorised, licensed, or appointed any individual, group, or organisation to act as an agent or intermediary in offering contracts, financial grants, or intervention funds to the public,” said Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications. “The CBN also does not endorse or support such claims in any form.

The CBN has emphasised that it does not award contracts or distribute funds through unsolicited channels, such as emails or social media messages. Additionally, the bank does not charge fees for contracts or grants, nor does it engage intermediaries to facilitate access to financial interventions.

The CBN has urged the public to remain vigilant and report any suspicious activities to law enforcement agencies or visit the nearest CBN branch for guidance. “The apex bank remained committed to protecting the financial interests of Nigerians and is collaborating with security agencies to investigate and address the spread of these deceptive activities,” Mrs. Sidi Ali said.

The CBN has advised the public to rely solely on official communication channels for accurate information and exercise caution when approached with unsolicited financial proposals bearing the bank’s name.

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