Beware of fraudsters using our name, CBN warns Nigerians

Central Bank of Nigeria, CBN
Central Bank of Nigeria, CBN

The Central Bank of Nigeria (CBN) and the Financial Inclusion State Steering Committee (FISSCO) have alerted Nigerians of the existence of fraudsters using its name to defraud unsuspecting members of the public.

The bank said some individuals and organisations were cashing in on the financial inclusion trainings to perpetrate the act.


In a statement issued at the end of a 2-day stakeholders engagement and 2019 second quarter FISSCO meeting by the Niger State branch Controller of CBN and the state FISSCO chairman, Malam Mas’ud Ibrahim Tulu, it said individuals were taking  advantage of the vulnerable and gullible populace to defraud innocent people of their money in the form of training fees.

He said the Financial Inclusion Secretariat has not endorsed any outfit to conduct financial inclusion training on its behalf, and urged the public to beware of the nefarious activities of those outfits.

The statement said FISSCO targets 94,610 new accounts in Niger State alone in 2019, but that the state has only 38.1% financial exclusion rate in Nigeria currently, adding that there is need for serious sensitization for it to meet the mandate.


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