CBN Warns N50bn Loan Applicants Against Fraudsters

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By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has warned prospective applicants for the bank’s N50 billion Targeted Credit Facility (TCF) to beware of fraudsters using employees names as a front.

The CBN warned unsuspecting Nigerians of a certain fraudster using the twitter handle @YusufPhilipYila, which many believe belongs to the bank’s Director, Development Finance Department, Mr Philip Yila Yusuf.

According to CBN’s Director of Corporate Communications, Mr Isaac Okorafor, the impostor handle has been posting messages related to the bank’s N50 billion Targeted Credit Facility (TCF) with the intent of wooing loan seekers and owners of small-scale businesses to enter into correspondence with the owner of the fake handle.

Mr Okorafor warned unsuspecting members of the public not to have anything to do with the said twitter handle because it is fraudulent.

“Although the CBN, through the NIRSAL Microfinance Bank (NMFB), has indeed disbursed loans to successful beneficiaries under its COVID-19 Targeted Credit Facility, none of the Bank’s officials engages in direct interactions with prospective or successful applicants.

“We, therefore, find it embarrassing that Mr Yusuf has continued to be inundated with personal calls relating to messages from the impostor handle

“For the avoidance of doubt our Director, Development Finance Department, Mr Philip Yila Yusuf, does not currently own a twitter handle. Therefore, members of the public, particularly households, micro-enterprises and owners of small and medium-scale businesses are advised to desist from interacting with the said handle: @YusufPhilipYila . The messages are fake and anyone who enters into correspondence with them does so at his or her own risk,” the apex bank spokesman said.

He then advised prospective applicants to approach the NIRSAL Microfinance Bank or the CBN branch nearest to them or tweet at @cenbank or @NirsalMFB for clarification on the procedure for accessing the TCF or any of the CBN-related loans.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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