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Thursday, 13 July 2017

CBN reveals that Nigeria lost N11.9 billion to Ponzi scheme

CBN

Central Bank of Nigeria on Thursday said that the country has lost N11.9 billion to ponzi scheme.

Alhaji Yusuf Wali,the apex bank Acting Director, Corporate Communications warned Nigerians on the danger of associating with Ponzi schemes while speaking in Kano during the 2017 Bank-Wide Sensitization Campaign on CBN initiative program.

He said:

“I will also like to reiterate the position of the CBN on the need for the citizens to desist from unwholesome financial engagements in all Ponzi schemes. The Nigeria Electronic Fraud Forum made public a recent daunting report on the losses suffered by the subscribers which amounted to N11.9 billion in December 2016.”

He noted that the sensitization programme tagged “CBN Fair” is geared towards sensitizing citizens on the activities of CBN as well as educating Nigerians on how best to engage in financial transactions.

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