CBN warns against fraudulent contracts, intervention claims

“We wish to clarify that this is false. These individuals are solely motivated by the desire to defraud unsuspecting Nigerians. Any such assertions are fraudulent and should be disregarded.”

The Central Bank of Nigeria (CBN) has raised the alarm over fraudulent schemes and false claims of contract awards and special financial interventions purportedly linked to the apex bank.

In a statement signed by the bank’s Acting Director of Corporate Communications, Hakama Ali, on Monday, the bank dismissed these claims as baseless and designed to deceive unsuspecting Nigerians.

Some fraudsters, according to the CBN, falsely claim to possess award letters for construction projects and other financial initiatives allegedly sponsored by the bank.

“We wish to clarify that this is false. These individuals are solely motivated by the desire to defraud unsuspecting Nigerians. Any such assertions are fraudulent and should be disregarded,” the bank said.

The CBN stressed that, under the current management, it has discontinued direct funding of development interventions and special projects, a policy shift that aligns with its core mandate of ensuring monetary and price stability and fostering a sound financial system.

The bank also denied authorising any public notices for interventions on social media platforms or other news outlets. It urged members of the public to remain vigilant and report any suspicious activities to law enforcement authorities.

“We, therefore, encourage the public to remain vigilant and promptly report any suspicious activities or publications to the relevant law enforcement agencies. Please be guided accordingly,” the statement said.