In a statement entitled ‘Beware of Fraudulent Loan Offer, Investment Schemes’, the acting Director, Corporate Communications, CBN, Osita Nwanisobi, has asked the public to beware of fraudulent loan offers and investment schemes.

The Central Bank of Nigeria (CBN) said its attention had been drawn to fraudulent messages and videos in social media circles requesting unsuspecting loans seekers and owners of small-scale businesses to apply for loans or investment schemes purportedly facilitated by the bank.

Nwanisobi said, while the CBN had several development finance intervention programmes from which different categories of businesses had benefited and still benefitting, it did 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 Finance Institutions, such as Deposit Money Banks, Development Finance Institutions and Microfinance Banks”, he said.

He advised the public, particularly the youth and owners of SMEs, to disregard any video or text message proposing investment schemes or charging them fees o the pretext that their organizations were endorsed by the CBN and would therefore guarantee easy access to CBN loans.

The statement added that the CBN had neither appointment nor accredited any organization to serve as agent on its behalf for the purpose of investment or applying for intervention loans. Therefore, the videos and messages are fraudulent and anyone who enters into correspondence with those behind them does so at his or her own risks.

The CBN then advised prospective applicants to approach their respective banks, NIRSAL Microfinance Bank or the CBN branch nearest to them for clarification on the procedure for accessing any of the CBN related facility.