Beware of dubious financial institutions – CBN

The Central Bank of Nigeria (CBN) has warned Nigerians to be cautious of fraudulent financial institutions going around to defraud them.

It also said to avoid falling victim, citizens should insist on seeing the licenses recognized by CBN if dubious elements approached them.

CBN Director, Corporate Communication, Osita Nwanisobi, spoke on behalf of the CBN Governor Godwin Emefiele at the opening of a two-day ‘CBN Fair’, held in Ibadan, Oyo State.

He said the apex bank often received complaints from Nigerians on the activities of quack financial institutions.

He added that people should be wary of who to transact business with.

He further said part of the activities of the CBN under the leadership of Emefiele in engaging in the developing economy and intervening in critical sectors was to ensure the well-being of Nigerians, while also promoting growth and development.



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