CBN warns Nigerians against fake contracts, grants, loans 

In a statement released on Monday, the CBN expressed concern that despite previous warnings, individuals and groups have continued to deceive unsuspecting members of the public with fictitious claims. The bank reiterated that it had not authorised any person or organisation to act on its behalf in disbursing funds or awarding contracts.

The statement, signed by the Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali, read:

The apex bank noted that these fraudulent activities have persisted despite a public advisory it issued on November 18, 2024, through its official channels and media outlets.

The CBN stressed that it had not given any mandate to individuals or organisations to act as intermediaries in the name of the bank, nor does it engage third parties to deliver financial opportunities to the public.

“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. 

“The CBN also does not endorse or support such claims in any form,” the bank stated. 

The apex bank also highlighted that it does not operate through unsolicited messages or platforms such as emails, SMS, phone calls, WhatsApp, or other social media channels. According to the statement, any communication suggesting otherwise is likely part of a fraudulent scheme.

“Members of the public are advised that the Central Bank of Nigeria does not award contracts or disburse funds through unsolicited communications such as emails, phone calls, SMS, WhatsApp, or any social media platform,” it added. 

In addition, the CBN clarified that it does not demand payments or fees for facilitating any contract, grant, or financial intervention. It warned Nigerians to be wary of anyone making such requests, and urged victims or targets of such scams to immediately report the incidents to security authorities or visit the nearest CBN branch.

“If you are approached by individuals or entities making such claims, we strongly advise that you do not engage with them. Instead, such incidents should be reported immediately to the relevant law enforcement agencies or the nearest CBN Branch,” the bank said. 

The apex bank reaffirmed its commitment to safeguarding the financial interests of the Nigerian public and disclosed that it is working closely with law enforcement agencies to track, investigate, and shut down fraudulent operations targeting citizens.

This latest disclaimer comes as the bank intensifies efforts to protect its reputation and prevent the misuse of its name by criminal elements operating under the guise of financial empowerment.