The Central Bank of Nigeria (CBN) has again warned the public against 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.
The CBN said on Thursday that while it has several development finance intervention programmes from which different categories of businesses have benefitted it does not do so through direct interaction with prospective applicants.
The bank said that 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).
It also said it 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,” the CBN said in a press release.
“These videos and messages 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.”