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    MarketForces Africa » MarketNews » CBN Warns Against Fraudulent Contracts, Project Funding Claims

    CBN Warns Against Fraudulent Contracts, Project Funding Claims

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiNovember 19, 2024 MarketNews No Comments2 Mins Read
    CBN Warns Against Fraudulent Contracts, Project Funding Claims
    Yemi Cardoso, CBN Gov
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    CBN Warns Against Fraudulent Contracts, Project Funding Claims

    The Central Bank of Nigeria (CBN) has issued a warning regarding fraudsters who claim to have received award letters for contracts related to construction works and special financial interventions on its behalf.

    CBN’s Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, in a statement on Monday, warned members of the public to disregard the fraudsters out to cheat them.

    “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,” she said.

    Sidi Ali reaffirmed CBN’s committed to its core mandate of ensuring monetary and price stability and a sound and efficient financial system in Nigeria.

    She urged the public to remain vigilant and promptly report any suspicious activities or publications to the relevant law enforcement agencies. #CBN Warns Against Fraudulent Contracts, Project Funding Claims Naira Depreciates Ahead of 2-Week Automated FX Trading Trial

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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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