By Chibisi Ohakah
Abuja
There are confirmed reports that the N220 billion Micro, Small and Medium Enterprises (MSMEs) Development Fund provided by the Central Bank of Nigeria (CBN) has been infiltrated by scammers who defraud applicants with proposals to buy forms for stated sums to enable them access the loans.
Confir4min the development last Friday, the CBN director of corporate communications, Ibrahim Mu’azu, said the CBN has discovered that some “dishonest elements extort between N2,000 and N40,000 from their victims by asking them to pay the said sums for forms as a pre-condition and/or guarantee for securing loans from the Fund.”
According to him, the fraudsters also ask applicants 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. 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,” he said
Continuing, he advised members of the public to beware of the activities of fraudsters and report anyone that approaches them with the fake forms to the law enforcement agencies.
