Beware of Fraudulent Loan Offers

News Update

The general public has been warned against fraudulent messages and videos in social media circles requesting unsuscpecting loan seekers and owners of small scale businesses to apply for loans or investment schemes, by the Central Bank of Nigeria through their publication.

Acting director, cooperate communications, Osita Nwanisobi stated in the publication that CBN has several development finance intervention programmes from which different categories of businesses have benefited (and still benefiting), but does not do so through direct interaction with prospective applicants.

“There are clearly spelt out procedures for accessing CBN intervention funds which are disbursed via Participating Financial Institutions, Development Financial Institutions and Microfinance banks. The bank also does not facilitate investment schemes.

Prospective applicants are therefore advised to approach their respective banks, NIRSAL Microfinance bank or CBN branch nearest to them for procedures and clarifications.

CBN can also be contacted via their mobile line – 07002255226 and or via their email address –

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