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Beware of fraudster in the name entrepreneurship training/loan- CBN

The Central Bank of Nigeria (CBN) has called on the general public to be careful in dealing with some Entrepreneurship Development Institutions (EDIs), purporting to be CBN-accredited EDIs.

These institutes persuade unsuspecting members of the public that they can help them in securing loans through the CBN Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS).

In a statement signed by the Director, Corporate Communications CBN, Mr Isaac Okoroafor, the bank noted that some of these bodies are not accredited by it.

“These unaccredited bodies have continued to defraud and exploit members of the public by advertising for courses and charging training fees ranging on the pretext that the training is endorsed by the CBN and therefore would guarantee easy access to AGSMEIS loans.

“For the avoidance of doubt, the CBN has neither appointed nor accredited any organization to conduct any training on its behalf for the purpose of applying for AGSMEIS loans,” the statement read in part. The Public is therefore advised to beware of the activities of these non-accredited private and public organizations and report anyone or group that approaches them for these illegal and unauthorized training, to the law enforcement agencies.

The Public is also advised to contact the Central Bank of Nigeria (CBN) on 07002255226 or send an email to for any clarification.



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