Central Bank of Nigeria warns Nigerians to avoid dealing with illegal, unlicensed financial operators.

Written by on April 5, 2022

The Central Bank of Nigeria (CBN) has warned Nigerians to avoid dealing with illegal and unlicensed financial operators who lure and defraud members of the public.

The Apex Bank in a statement on Monday said the increase in the activities of Illegal Financial Operators (IFOs) is becoming worrisome and portends a grave risk to public confidence and the stability of the Nigerian Financial System.

CBN, therefore advised members of the public to visit its official website and that of the Securities and Exchange Commission (SEC) and other relevant member agencies of the FSRCC to verify the registration and license status of such companies and schemes before investing in them.

They also advised Nigerians to report any individual or entities suspected to be involved in such nefarious activities to the law enforcement agencies.

Amen J Kantiyok

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