CBN warns public of fake contract scams

The Central Bank of Nigeria (CBN) has warned the public to disregard unsolicited messages offering contracts, loans, grants, or financial interventions purportedly from the apex bank, saying such claims are false and unauthorized.

In a statement issued on Monday by Sidi Ali Hakama, acting director of Corporate Communications, the CBN made it clear that it does not award contracts or disburse funds through unsolicited communication channels such as emails, phone calls, text messages, WhatsApp, or any other social media platforms.

“The CBN has not authorised, licensed, or appointed any individual, group, or organisation to act on its behalf in offering contracts, financial grants, or intervention funds to the public,” the statement said. “The Bank does not support or endorse such fraudulent claims in any form.”

The apex bank said its attention was drawn once again to the activities of fraudsters who continue to circulate fake offers allegedly issued or endorsed by the CBN. These schemes, often presented as too good to be true, persist despite an earlier public advisory issued on November 18, 2024.

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The bank emphasised that it neither requests any form of payment in exchange for contracts or financial support nor engages intermediaries to provide such opportunities to Nigerians.

Members of the public have been urged to remain vigilant and report any suspicious communication to law enforcement authorities or the nearest CBN branch.

The CBN reaffirmed its commitment to protecting the financial interests of Nigerians and said it is working closely with security agencies to investigate and curb fraudulent activities exploiting the bank’s name.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.