Beware of fraudsters peddling contracts, project funding claims – CBN
“Any such assertions are fraudulent and should be disregarded."
The Central Bank of Nigeria (CBN) warned Nigerians to beware of fraudsters peddling contracts, project funding claims. CBN raised the alarm over activities of fraudsters purporting to be in receipt of award letters of contracts related to construction works.
According to a statement by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Ali, the fraudsters also usually lay claims to the procession of special financial interventions on behalf of the CBN.
She said that it was false, as such individuals were solely motivated by the desire to defraud unsuspecting Nigerians. “Any such assertions are fraudulent and should be disregarded.
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“The CBN hereby reiterates that, in line with the focus of its current management, it has discontinued direct development interventions and special projects funding,” she said.
She further said that the apex bank had not authorised public notices for such interventions on social media platforms or any other news outlet.
“The CBN remains committed to its core mandate of ensuring monetary and price stability, and a sound and efficient financial system in Nigeria.
“We, therefore, encourage the public to remain vigilant and promptly report any suspicious activities or publications to the relevant law enforcement agencies,” she said.
Fraud increase
Premium Times reports that there has been an increase in fraud cases within Nigeria’s banking sector over the past five years, according to a report by SBM Intelligence.
SBM Intelligence, an Africa-focused research firm, said financial losses due to fraudulent activities surged by N14.71 billion from 2019 to 2023.
According to Nairametrics reports. the CBN warning comes as fraudulent schemes targeting individuals and businesses in Nigeria continue to rise.
- Beyond fraudulent schemes, individual and business accounts have also been on target by fraudsters who prowl on unsuspecting bank users to wipe their funds.
- This development has prompted the CBN and the Bankers Committee to join forces to combat this menace by embarking on a series of campaigns highlighting some of the common and emerging scams to create awareness among Nigerians.
