The Central Bank of Nigeria (CBN) has again warned the public to beware of fraudsters who are using its name to promote fake contracts, loans, and financial grants. In a fresh alert issued on Monday, May 12, 2025, the apex bank said it has noticed an increase in the activities of individuals and groups falsely claiming to be working on behalf of the bank.
The warning was contained in a statement signed by the Acting Director of Corporate Communications at the CBN, Mrs. Hakama Sidi-Ali. She said some of these criminals are using the names of government programs and intervention funds to deceive people into paying money or sharing personal details.
According to the CBN, these fraudsters are spreading false information through emails, phone calls, SMS, WhatsApp messages, and social media platforms. They promise unsuspecting Nigerians access to fake government contracts, loans, and grants in exchange for upfront payments or personal information.
Mrs. Sidi-Ali noted that the apex bank had already issued a public notice on November 18, 2024, warning the public about such schemes, but the activities of these scammers have continued. “These actors continue to circulate fictitious offers of contracts, loans, grants, intervention funds, and other financial benefits allegedly issued or endorsed by the CBN,” she said.
The CBN made it clear that it does not appoint any individual, group, or organisation to act as an agent or middleman for offering contracts or disbursing funds. It also stressed that it never sends unsolicited offers through phone calls, social media, or other unofficial channels.
“The Central Bank of Nigeria does not award contracts or disburse funds through unsolicited communications such as emails, phone calls, SMS, WhatsApp, or any social media platform,” the statement said.
The bank also warned that it does not ask anyone to pay fees in return for getting loans or grants. It does not use third parties or intermediaries to distribute any of its financial services or intervention programs.
Nigerians were advised to be careful and not to fall for any such fraudulent offers. If anyone is approached with suspicious claims or requests for payment, the CBN urged them to report the incident immediately to the police or to the nearest CBN branch for proper investigation.
The apex bank said it remains committed to protecting the financial interests of Nigerians and is working closely with security agencies to track and stop fraudsters. It also encouraged people to verify any information related to government-backed financial support from official CBN communication channels only.
These scams have become common, especially in periods of economic hardship when people are desperate for financial support. Authorities have repeatedly warned that fraudsters take advantage of such situations to prey on unsuspecting victims.
Nigerians are now being reminded to always double-check the sources of financial offers and report any suspicious activity. By doing so, the public can help curb fraud and support the Central Bank’s efforts to maintain trust in the country’s financial system.
