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Nov 19, 202411 min read

CBN Warns Against Fraudulent Contract Funding Claims

CBN Warns Against Fraudulent Contract Funding Claims
Galaxy TV · Local News desk · Lagos

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The Central Bank of Nigeria (CBN) has alerted the public on 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 apex bank.

The Apex Bank in a statement issued in Abuja by Hakama Ali, described the claim as false adding that, these individuals are solely motivated by the desire to defraud unsuspecting Nigerians. It added that any such assertions are fraudulent and should be disregarded,

The bank reiterated that, in line with the focus of its current management, it has discontinued direct development interventions and special projects funding.

According to Ali, the CBN has not authorised public notices for such interventions on social media platforms or any other news outlet.

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

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

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Galaxy TV
Editorial Desk

Reporting for Galaxy TV from Lagos and Abuja, covering energy and national affairs across Nigeria and West Africa