NITDA cautions Nigerians on money doubling investment schemes

The National Information Technology Development Agency (NITDA) has distanced itself from what it called fake news being circulated by cybercriminals that it has given its nod to money doubling financial investment companies to operate.

NITDA said there was a need for the general public to exercise caution when dealing with online money doubling companies, particularly if it violates the Nigerian Data Protection Regulation. It warned members of the public to disregard fraudsters who use the logo of the agency as bait to dupe their unsuspecting victims.

The Head, Corporate Affairs and External Relations Unit at NITDA, Mrs Hadiza Umar on Mondays said that these fraudulent financial investment companies get their victims by requesting that they join their WhatsApp group in order to access their records through their phone numbers.

NITDA urged the general public to always verify if the financial investment firms have clearance from relevant government agencies mandated to license corporate investment advisers.

“The public is further advised to be wary of any quick wins schemes especially if it violates the Nigerian Data Protection Regulation.“Furthermore, NITDA strongly advises the general public to disregard the malicious investment scheme even if the people behind such purportedly use NITDA’s name, its affiliates, logo and or staff of the agency as a bait to lure the people” the statement added.