Development Bank alerts public on fake schemes

The Development Bank of Nigeria Plc (DBN) has said the public should be wary of fraudulent multi-purpose schemes that are out to defraud unsuspecting persons. 


It said the fraudsters would be canvassing that the World Bank was giving out grants to individuals to do business in Nigeria through DBN.

According to a statement from the bank, members of the public are advised to note that DBN is not involved in this fraudulent scheme and that the bank only disburses loans to MSMEs through Participating Financial Institutions (PFIs).


DBN warned “that it will not be responsible for any loss or damage resulting from this fraudulent scheme. The bank only recently commenced lending activities with N5 billion earmarked for disbursement through three microfinance banks (MFBs)” it said. 

Having been established as a wholesale development finance institution, the disbursed amount is for onward lending to over 20,000 micro, small and medium scale enterprises (MSMEs) spread across the country.

The three MFBs for the pilot scheme, that were unveiled at an agreement-signing ceremony recently in Abuja were Fortis Microfinance Bank Plc, LAPO Microfinance Bank Limited and NPF Microfinance Bank Plc.

Share this article

BARRISTER Anthony Woke Up At About 12Midnight To Urinate. He Almost Fainted When He Just Couldn't Pee: ENLARGED PROSTATE!!!

ALHAJI Ahmed Pees 7 Times At Night, More At Daytime: PROSTATE ISSUES!!!


PREVENT Or SHRINK Your Enlarged PROSTATE Within 15 Days Without Surgery!!! Click To See HOW!

Join us on

Send DTM to 4900 (MTN) or DTM to 655 (Etisalat) for regular updates and more

Share your story with us: 08189301900 (Whatsapp and SMS only) Email: Or use this form

Complain about a story or Report an error and/or correction: +2348189301900

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.