CBN Warns Public Against Fraudulent Publication on Social Media

The Central Bank of Nigeria (CBN) has called out to the public to be wary of fraudulent messages on social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government.

According to the handle the application should be made through the  e-mail, purportedly handled by the CBN.

The apex bank claims it indeed has several development finance intervention
programmes from which different categories of businesses have benefitted, the bank does not do so through direct interaction with prospective applicants.

In a statement issued by the bank 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).

Members of the public, particularly youth and owners of small-scale businesses have been advised to disregard any message requesting them to send their
personal details, mobile phone numbers, to emails such as 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 clarifications on the procedure for accessing any of the CBN related loans.


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