CBN cautions business owners against fraudulent loan offers, investment schemes

CBN cautions business owners against fraudulent loan offers, investment schemes

<p class="">The Central Bank of Nigeria (CBN) has cautioned business owners against fraudulent loan offers, especially through the social media.</p>

<h1>Mr Osita Nwanisobi, CBN Acting Director, Corporate Communications, gave the warning in a statement on Friday in Abuja.</h1>

<p class=""><strong>Nwanisobi </strong>said that the apex bank was aware that some fraudulent individuals send messages for such offers, especially through the social media.</p>

<p class="">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.</p>

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<p class=""><em>“The attention of the CBN has again been drawn to fraudulent messages and videos, especially in the social media.</em></p>

<p class=""><em>“They request unsuspecting loan seekers and owners of small-scale businesses to apply for loans or investment schemes purportedly facilitated by the bank,’’ </em>Nwanisobi said.</p>

<p class="">He said that although the CBN has several development finance intervention programmes, it does not interact directly with prospective applicants.</p>

<p class=""><em>“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.</em></p>

<p class=""><em>“The bank does not facilitate investment schemes.</em></p>

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<p class=""><em>“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,’’ </em>Nwanisobi said.</p>

<p class="">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.</p>

<p class="">He urged the public to contact CBN hotline – 0700255226 or email – <a href="mailto:contactcbn@cbn.gov.ng" id="beaedc02-ebba-4f38-8ed9-e1f5cba70334">contactcbn@cbn.gov.ng</a> for further clarifications.</p>

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