The Central Bank of Nigeria (CBN) on Sunday warned members of the public about the activities of some unscrupulous persons defrauding members of the public by selling application forms purportedly from CBN for the purpose of accessing loans from the N220billion Micro, Small and Medium Enterprises (MSMEs) development fund provided by the bank.
According to CBN, the “dishonest elements” extort between N2,000 and N40,000 from their victims by asking them to pay the said sums for forms as pre-condition and/or guarantee for securing loans from the Fund.
The fraudsters were also reported to be asking would-be borrowers to contribute into a dedicated account certain sums as percentages of the loan they intend to access.
“The Central Bank of Nigeria wishes to inform the public that at no time did it authorize or appoint any agent to sell forms or collect any fee to access the Fund,” read a statement.
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“For the avoidance of doubt, the only form available under the fund is the form to be filled by participating financial institutions (PFIs) – Microfinance Banks, Non-Bank Microfinance Institutions, Financial Cooperatives, Finance Companies, Commercial Banks, Bank of Industry and Bank of Agriculture – to enable them access the Fund and it is free.”
CBN advised the public to be wary of the activities of fraudsters and report anyone that approaches them with the fake forms to the law enforcement agencies.
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