CBN alerts Nigerians about fraudulent loan offers, investment schemes
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CBN alerts Nigerians about fraudulent loan offers, investment schemes

- CBN has raised an alarm over the activities of fraudsters disgusting as its representatives

- A spokesperson for the bank, Ostia Nwanisobi disclosed that the fraudsters were mostly carrying out their scam through social media

- Nwanisobi said scammers are targeting loan seekers and owners of small-scale businesses

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The Central Bank of Nigeria (CBN) has alerted Nigerians about fraudulent schemes being perpetuated particularly on social media.

The apex bank in a warning on Friday, October 9, said the fraud is being carried out in form of loan offers, Premium Times reported.

CBN alerts Nigerians about latest fraud scheme

CBN alerts Nigerians about latest fraud scheme
Source: Getty Images

Ostia Nwanisobi, the CBN acting director, corporate communications in disclosed that the fraudsters were offering loans to individuals through social media with the aim of duping them.

He said the scammers pretending to be representatives of CBN were asking unsuspecting loan seekers and owners of small-scale businesses to apply for loans or investment schemes.

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Nwanisobi explained that the CBN does not interact directly with prospective applicants.

He said:

“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.

In another report, the trial of Raymond Igbalode aka Hushpuppi has been suspended till 2021 due to the coronavirus pandemic the world is currently battling with.

The trial was earlier scheduled for October 13, after the suspect pleaded not guilty to the charges levelled against him.

According to the orders of a district judge in California, Otis Wright, the trial will continue on May 4, 2021, Channels reports.

Meanwhile, Borno State High Court has sentenced one Allen Abel to a cumulative term of 125 years in prison over a fake school feeding contract.

Abel and three other suspects were accused of fraudulently obtaining food items from Lele Foresight Construction Company valued at N12, 879,800.00.

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The EFCC disclosed that the four suspects had pretended to execute a school feeding contract for the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development (FMHDSD).

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