CBN warns against fraudulent contract, project funding claims

Abdullateef Fowewe

The Central Bank of Nigeria (CBN) has warned the public on activities of fraudsters purporting to be in receipt of award letters of contracts.

It gave the warning in a statement on Monday, signed by the Ag. Director, Corporate Communications, Hakama Sidi Ali (Mrs.).

The statement said, “The Central Bank of Nigeria (CBN) wishes to alert members of the public to the activities of fraudsters purporting to be in receipt of award letters of contracts related to construction works and special financial interventions on behalf of 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 hereby reiterates that, in line with the focus of its current management, it has discontinued direct development interventions and special projects funding.”

Furthermore, CBN stated that it has not authorised public notices for such interventions on social media platforms or any other news outlet.

It added, “The CBN remains committed to its core mandate of ensuring monetary and price stability, and a sound and efficient financial system in Nigeria.

“We, therefore, encourage the public to remain vigilant and promptly report any suspicious activities or publications to the relevant law enforcement agencies.