The Central Bank of Nigeria (CBN) has issued a public notice warning Nigerians about the activities of fraudsters falsely claiming to possess award letters for contracts related to construction projects and special financial interventions purportedly issued by the Bank.
In a statement signed by the bank’s Ag. Director of Corporate Communications, Hakama Sidi Ali, the CBN clarified that these claims are entirely false and are aimed at defrauding unsuspecting Nigerians.
The Bank emphasized that it has discontinued direct development interventions and special project funding, in line with the focus of its current management.
“CBN has not authorised public notices for such interventions on social media platforms or any other news outlet. Any such assertions are fraudulent and should be disregarded,” the statement read.
Core mandate focus
The CBN reaffirmed its commitment to its core mandate, which includes ensuring monetary and price stability and maintaining a sound and efficient financial system in Nigeria.
- The Bank urged Nigerians to remain vigilant and report any suspicious activities or publications to the relevant law enforcement agencies.
- The CBN encouraged citizens to exercise caution and verify information before engaging with entities claiming to represent the Bank.
- The bank also advised to report suspicious activities to law enforcement agencies promptly.
What you should know
The CBN warning comes as fraudulent schemes targeting individuals and businesses in Nigeria continue to rise.
- Beyond fraudulent schemes, individual and business accounts have also been on target by fraudsters who prowl on unsuspecting bank users to wipe their funds.
- This development has prompted the CBN and the Bankers Committee to join forces to combat this menace by embarking on a series of campaigns highlighting some of the common and emerging scams to create awareness among Nigerians.
In one of the campaigns published recently, the bank warned:
“As a hardworking individual, it is your responsibility to stay on top of new updates scammers use to steal money from unsuspecting victims.
“Harm yourself with knowledge and exercise caution when carrying out transactions on e-commerce sites and even with mobile money agents.
“If you’re a POS operator, scammers may target you with chargeback fraud. They make a successful transaction and then falsely claim it wasn’t authorized or that you debited the wrong amount.
“Don’t let them get away with it. Pay attention to your customers and contest any fraudulent claims within the 48-hour window provided by banks.”
It also urged PoS business owners to pay attention to their customers as some may change the amount they want to withdraw when they handle the POS to input their PIN.
