CBN Warns Public Against Fake Contracts, Loans Grant Scams

Samuel Mobolaji

The Central Bank of Nigeria (CBN) has issued a renewed warning to the public over fraudulent offers of contracts, loans, grants, and intervention funds falsely linked to the apex bank.

In a statement signed by Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali, the CBN emphasised that it has not authorised any individual, group, or organisation to act on its behalf in disbursing financial benefits or awarding contracts. The bank cautioned Nigerians to disregard unsolicited messages or social media communications claiming CBN endorsement.

“These actors continue to circulate fictitious offers… allegedly issued or endorsed by the CBN,” the statement read, reiterating that the bank neither operates through third-party intermediaries nor demands fees for access to financial opportunities.

The apex bank also warned that it does not initiate contact via SMS, email, WhatsApp, or other online platforms for contract awards or grants. It urged citizens to report such fraudulent approaches to law enforcement or any CBN branch.

Reaffirming its commitment to protecting the financial interests of Nigerians, the CBN disclosed it is collaborating with security agencies to investigate and dismantle scam networks operating under its name.