The Central Bank of Nigeria (CBN) has issued a strong warning to the public, debunking ongoing fraudulent activities by individuals and groups who falsely claim to offer loans, grants, or intervention funds endorsed by the bank.
In a statement released on May 12, 2025, and signed by the acting Director of Corporate Communications, Sidi Ali Hakama, the CBN clarified that it does not authorize any third parties to offer financial assistance on its behalf.
The statement reads, “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 does not endorse or support such claims in any form.”
The apex bank further emphasized that no funds or contracts are disbursed via channels such as emails, phone calls, SMS, WhatsApp, or social media platforms. Additionally, CBN stressed that no payments should be made in exchange for access to grants or financial support.
Despite an earlier advisory in November 2024 warning the public about these fraudulent schemes, CBN said such activities continue to mislead and deceive unsuspecting individuals.
The bank strongly encouraged Nigerians to report any suspicious claims to the relevant authorities or visit the nearest CBN branch for clarification. CBN reaffirmed its dedication to safeguarding the public’s financial interests and vowed to collaborate with law enforcement agencies to tackle these deceptive practices.
The CBN’s message is clear: there are no intermediaries or agents authorized to offer financial services or assistance in its name.
