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Market Digest Nigeria


CBN raises alarm over fake tweet posts on N50 billion COVID-19 fund

CBN Raises Alarm Over Fake Tweet

The CBN warned the public to stop any form of correspondence with the fake Twitter handle.

CBN Raises Alarm Over Fake Tweet

The Central Bank of Nigeria (CBN) has raised an alarm to members of the public over the operation of a fake Twitter handle, @yusufPhilipYila, which was alleged to belong to its Director, Development Finance, Mr. Philip Yila Yusuf. The apex bank described the operations of the fake Twitter handle as fraudulent.

This was disclosed by the CBN Director of Corporate Communications, Mr. Isaac Okoroafor, in a press statement that was released on Sunday, June 28, 2020, in Abuja.

According to information from News Agency of Nigeria (NAN), Okoroafor pointed out that fake messages relating to the bank’s N50 billion Targeted Credit Facility (TCF) had been posted on the Twitter handle with the intent of wooing unsuspecting loan seekers and owners of small-scale businesses to enter into correspondence with the fake handle.

The CBN Director warned unsuspecting members of the public, particularly households, micro, small and medium enterprises (MSMEs), to stop any form of correspondence with the fake Twitter handle, while also informing them that the real Mr. Yusuf does not currently own a Twitter handle.

In the statement, Okoroafor said, “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, Mr Yusuf, does not currently own a twitter handle.”

The CBN Director also cautioned that anyone who enters into correspondence with the operators of the fake Twitter handle, does so at his or her own risk.

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