Godwin Emefiele, CBN governor

The Central Bank of Nigeria (CBN), has warned Nigerians against accepting loans from “fraudulent” organisations currently requesting people on social media to apply for SME loans purportedly provided by the Federal Government through bank.

The apex bank which gave the warning in a statement on Monday by its Director of Corporate Communications, Isaac Okoroafor, noted that it has well laid out procedures for giving loans, which does not include direct interaction with applicants.

“The attention of the Central Bank of Nigeria (CBN) has been drawn to fraudulent messages in the social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government through an e-mail address ([email protected]) purportedly being handled by the Central Bank of Nigeria (CBN),” the statement read.

“While the CBN, indeed, has several development finance intervention programmes from which different categories of businesses have benefitted (and still benefit), the Bank DOES 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 Financial Institutions (PFIs), such as Deposit Money Banks (DMBs), Development Finance Institutions (DFIs) and Microfinance Banks (MFBs).

“Members of the public, particularly youth and owners of small-scale businesses, are therefore advised to disregard any message requesting them to send their personal details, including mobile phone numbers, to emails such as [email protected] or any other one that may be contrived. These messages are fake and anyone who enters into correspondence with them does so at his or her own risk.

“Prospective applicants are advised to approach their respective banks or the Central Bank of Nigeria (CBN) branch nearest to them for clarification on the procedure for accessing any of the CBN-related loans.”