CBN Issues Warning Against Fraudulent Contract Funding Claims

• CBN warns the public about fraudulent activities related to fake contract awards.
• The CBN has discontinued direct development interventions and special project funding.
• The CBN emphasized that it has not authorized such notices on social media or other outlets.
• The bank encourages vigilance and prompt reporting of suspicious activities to law enforcement.

The Central Bank of Nigeria (CBN) has issued a warning regarding fraudsters posing as recipients of award letters for contracts related to construction projects and special financial interventions on behalf of the bank.

Hakama Ali, spokesperson for the CBN, clarified in a statement that these claims are false and intended to deceive unsuspecting Nigerians. “These individuals are solely motivated by the desire to defraud,” Ali said, urging the public to disregard any such assertions.

The CBN emphasized that, under its current management, it has ceased direct involvement in development interventions and funding for special projects. Ali further stated that the bank has not authorized any public notices related to such interventions on social media or other news platforms.

Reaffirming its commitment to its core mandate, the CBN stated its focus remains on ensuring monetary and price stability, as well as fostering a sound and efficient financial system in Nigeria.

The CBN urged the public to stay vigilant and report any suspicious activities or publications to the appropriate law enforcement agencies.