CBN Warns Public Against Fraudulent Contract and Project Funding Claims

cover, Financial Markets

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 has not authorised public notices for such interventions on social media
platforms or any other news outlet.
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.
Please be guided accordingly.
Hakama Sidi Ali (Mrs.)
Ag. Director, Corporate Communications
November 18, 2024