x

CBN Warns Nigerians To Avoid Dealing With Illegal, Unlicensed Financial Operators

The Central Bank of Nigeria (CBN) has warned Nigerians to avoid dealing with illegal and unlicensed financial operators who lure and defraud members of the public.

The Apex Bank in a statement on Monday said the increase in the activities of Illegal Financial Operators (IFOs) is becoming worrisome and portends a grave risk to public confidence and the stability of the Nigerian Financial System.

“The FSRCC wishes to draw the attention of the general public to the worrisome increase in the activities of the Illegal Financial Operators (IFOs) which portends grave risk to public confidence and the stability of the Nigerian Financial System.

“The FSRCC in its continuing efforts to end the scourge of IFOs in Nigeria hereby issues the following advisory:

“The general public is advised to refrain from dealing with unlicensed or illegal financial operators, who lure and defraud unsuspecting members of the public by offering extra-ordinary returns on investments as bait,” the statement which was signed by the Secretary, Financial Services Regulation Coordinating Committee, read in part.

CBN, therefore advised members of the public to visit its official website and that of the Securities and Exchange Commission (SEC) and other relevant member agencies of the FSRCC to verify the registration and license status of such companies and schemes before investing in them.

They also advised Nigerians to report any individual or entities suspected to be involved in such nefarious activities to the law enforcement agencies.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

WOMAN empowers over 70 Women in Yenagoa

From Rhoda Nnachi, YenagoaIn commemoration of the International Women's...

Nigeria At Crossroads: Underpinnings Of Good Governance, Encumbered By Leadership Quagmire

PATRICK WEMAMBUJohn Maxwell, celebrated American Author and Speaker could...

House Public Accounts Committee Recovers ₦28.7 Billion for the Federation in One Week

Secures Additional ₦199.3 Million from Zenith Bank, GTB Through...

Eha-Amufu indigenes in Enugu debunk allegation of recent mass killings, arson

… I’m alive, rape victim denies protesters' claim she's...

FG Moves to fast-track SDGs Implementation at all levels

By Bobby OshokeAs Nigeria continues regional consultations on...

Plateau group commends Arch Bankat for his outstanding achievements at JMDB

By Israal Adamu, JosPlateau Youths for Good Governance Agenda...

*NTAC DG, Buba Yakub Celebrates Amb.Tuggar On His Birthday.

*Lauds His Selfless Commitment To Service To Nigeria And...

SDP Youth Group Rejects el-Rufai’s Defection, Alleges Attempt To Hijack Party

*Say's he started pushing for SDP leadership change less...
spot_img

Related Articles

Popular Categories

spot_imgspot_img