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Sterling Bank attempted to ‘scam’ its customers; but it’s a drill

Sterling Bank’s social media team has always been used to their creative ways. Who rememberd the infamous bank wars that was instigated by them in 2018?



Sterling Bank attempted to 'scam' its customers; but it's a drill

In the course of this COVID-19 lockdown period, various forms of social media marketing gimmicks have been adopted by Nigerian banks in a bid to stay connected with their customers. Sterling Bank Plc, which is famous for its unique social media gimmickry, has not disappointed in this regard. The case in view is a recent stunt the company pulled on its customers, all for the right reasons by the way.

Wondering what happened?

Well, a few days ago, the bank’s Chief Executive Officer, Abubakar Suleiman shared a post on his personal Twitter handle. Some parts of the tweet simply said “… tomorrow you will get a call that could change everything”. Customers were then encouraged to click on a link in order to learn more.

At a time when millions of Nigerians are desperately cash-strapped and in need of financial aid, this tweet was surely going to garner attention. As expected, many people clicked on the link, and some of them came back with feedback. See one of them below:

No, it’s not a scam; but it could be…

While a lot of customers got the trick immediately, some others did not. And you cannot even blame those that failed to get it at first glance; the whole thing looked like the making of a good scam story.

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Upon clicking on the link provided by Mr Suleiman, visitors are taken to a page on Sterling Bank’s website where they are asked to provide their full names. The author of this report did not provide his full name. However, he typed in a fictitious name and here is what happened. See the picture below.

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READ ALSO: How to protect your bank account from phishing attempts

Now, at this stage when visitors are asked to provide their name, it is normal for anyone to conclude that it must be a scam. Therefore, assuming someone is actually faced with this kind of situation, leaving the site in a hurry would be the ideal thing to do. This is important because if you proceed to input your name, you might end up exposing yourself to various forms of cybercrime.

In the case of Sterling Bank’s “The Call”, the intention is obviously to test customers’ preparedness to discern the activities of criminals and flee from them. Agreed, some customers were initially alarmed by the “unique method” the bank had adopted to pass the message across. Yet, the important thing is that customers are getting the point.

READ ALSO: World Bank says remittances to Nigeria, other LMICs will drop by 20% in 2020

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Was this a good stunt?

Well, it depends on who you ask. For the people who could not get the drill immediately, this is probably not funny. But then again, Sterling Bank’s social media team is just used to their creative ways. Remember the infamous bank wars that was instigated by them in 2018? Nairametrics documented it right here.

Anyway, the most important thing is for bank customers to safeguard their banking details on the internet. This has become more important than ever before. Recall that as Nairametrics reported recently, the Central Bank of Nigeria (CBN) had to issue a fraud alert about the activities of cyber-criminals who are taking advantage of the current COVID-19 pandemic to defraud Nigerians.

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs. He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor. Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan. If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.



  1. Julius

    April 22, 2020 at 1:32 pm

    A brilliant idea
    I just tried it and was impressed

  2. Anonymous

    April 23, 2020 at 9:08 am

    Sterling Bank has actually been scamming some customers. Taking out charges for using a sterling debit card on a sterling ATM. Just decided to stop funding account. Been happening since late 2019 even after complaints. Sterling Bank customers should beware.

  3. Jude B.

    April 23, 2020 at 9:09 am

    Sterling Bank has actually been scamming some customers. Taking out charges for using a sterling debit card on a sterling ATM. Just decided to stop funding account. Been happening since late 2019 even after complaints. Sterling Bank customers should beware.

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House of Reps to make Youths globally competitive

House of Representatives is determined to make the Youths globally competitive.



Closing of Nigerian-owned shops in Ghana must be dealt with decisively - Femi Gbajabiamila, Lagos State needs N1 trillion for reconstruction - Femi Gbajabiamila
Lawmakers in the House of Representatives have assured Nigerian youths that they are committed to make them globally competitive.
This was disclosed by the Speaker of Nigeria’s House of Representatives, Femi Gbajabiamila, on Wednesday.
¬†In a tweet, which the speaker shared after a meeting with a group of young lawmakers under the aegis of ‘Young Parliamentarians Forum‘, he¬† reiterated that some of the demands of the youths following the #EndSARS protests would be addressed constitutionally, as part of the decision was to reform the Police, in a quest to accommodate a better Police Force.
On youth empowerment, the Speaker said that a lot still needs to be done, while pointing out that no government had done more than what the present administration has done.
What they are saying
He said, “All of us, every segment of the government, especially the House of Representatives, before the protests took the initiative, debated motions and took far-reaching decisions on the floor. We gave ourselves 30 days, and since then, we’ve been working night and day, especially with the Nigerian Bar Association (NBA).
“We thought the best way to go about it is that we amend the Police Service Commission Act, and that has been done and the report has been concluded and soon, it will be published and be on the floor.
“We are determined to resolve the Academic Staff Union of Universities (ASUU) matter, and if we can resolve two out of three issues, I think we would have gone a long way to help the lecturers who are on strike.
“There’s a bill on vocational education, I think from the 8th Assembly that was even my bill. We‚Äôll pick it up again and pass it to you (Young Parliamentarians Group) to polish it up and add it to whatever ideas you have.”
While speaking on the giant strides by the current administration in terms of youth empowerment, the Speaker said:
“I make bold to say that no government, in Nigerian history from inception, and I stand to be corrected, has put in as much in youth empowerment as this present government.”

Facts don’t lie, a government that has devoted N500bn to youth empowerment every year. There’s Trader Moni, N-Power, and several others, they are all there,” he added.

Gbajabiamila added that the President Muhammadu Buhari’s administration has done a lot about youth empowerment and is ready to do more.


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COVID-19: Ogun orders full reopening of churches, mosques, hotels

Religious centres and other public places have been reopened following the success recorded in flattening the curve of COVID-19.



Coronavirus: Ogun State bans cinemas, night clubs, restaurants, other businesses from operating, COVID 19: Ogun State launches digital classes for students

The Ogun State Government has ordered the full reopening of churches, mosques, businesses, hotels, and entertainment centres across the state.

This was disclosed by the State Governor, Dapo Abiodun, in a statement signed by his Chief Press Secretary, Kunle Somorin, via the state’s Twitter handle on Wednesday.

Abiodun stated that the religious centres and other public places had been reopened, following the success recorded in flattening the curve of COVID-19.

According to him, the government is aware that many people are just recovering from the economic hardship imposed by COVID-19, as their activities had been affected by the lockdown, while necessary measures had been put in place to combat the pandemic.

He stated, “In the process of rebuilding the economy, the State Government was irrevocably committed to the successful implementation of the ‚ÄúBuilding our Future Together‚ÄĚ agenda, and would ensure everything possible for people to have increased prosperity that would place the State on a sound footing towards continued development.

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‚ÄúGovernment would improve on testing, just as it continues to monitor the development and not hesitate to do selective lockdown should there be any flagrant disobedience to the set COVID-19 protocols.‚ÄĚ

What you should know

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Governor Abiodun had closed religious centres, businesses and schools in March, as part of moves to flatten the curve of the coronavirus.

He later announced the reopening of only worship centres and schools in August.

Abiodun pegged the number of worshippers for each service at 200, and insisted that services must not exceed one and a half hours.

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Financial Services

CBN reveals framework for the N75 billion Youth Investment Fund

The Nigerian Youth Investment Fund will be funded through the NIRSAL MFB window of the CBN.



CBN reveals framework for the N75 billion Youth Investment Fund, Economic Growth, CBN, Governor, Emefiele, CBN releases new capital base, sanctions for Microfinance Banks, Nigerian Banks broadly positive after naira devaluation, Naira hits N465 to $1, Central Bank begins disbursing $100million to hit at currency speculators

The Central Bank of Nigeria (CBN) has revealed the implementation framework for the Nigerian Youth Investment Fund.

This was disclosed in a publication by the Development Finance Department under the auspices of the Central Bank of Nigeria.

The CBN stated that the Nigerian Youth Investment Fund (N-YIF) would be funded through NIRSAL MFB window, with an initial take-off seed capital of N12.5 billion.

READ: #EndSARS: FG creates new N25 billion Youth Fund, to increase to N75 billion in 3 years

The N-YIF aims to financially empower Nigerian youths to generate at least 500,000 jobs between 2020 and 2023.

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Objectives of the scheme:

  • ¬†Improve access to finance for youths and youth-owned enterprises for national development.
  • ¬†Generate much-needed employment opportunities to curb youth restiveness.
  • ¬†Boost the managerial capacity of the youths, and develop their potentials to become the future large corporate organizations.

Explore Data on the Nairametrics Research Website

What you should know
Recall that on the 22nd of July, 2020, the Federal Executive Council (FEC) approved the sum of N75 billion for the establishment of the Nigeria Youth Investment Fund for the period of 2020 ‚Äď 2023.
The fund was created to support the innovative ideas, skills and talents of Nigerian youths, and to institutionally provide Nigerian youths with a special window for accessing much-needed funds, finances, business management skills and other inputs critical for sustainable enterprise development.
  • The fund targets young people between the ages of 18 and 35 years.
  • Beneficiaries of NMFB, TCF and AgSMEIS loans, and other government loan schemes that remain unpaid are also not eligible to participate.
  • Individuals (unregistered businesses) shall be determined based on activity/nature of projects subject to the maximum of N250,000.
  • Registered businesses (Business name, Limited Liability, Cooperative, Commodity Association) shall be determined by activity/nature of projects subject to the maximum of N3.0 million (including working capital).
  • The tenor of the intervention is for a Maximum of 5 years, depending on the nature of the business and the assets acquired, of which interest rate of not more than 5% under the intervention shall be charged annually.
  • The Federal Ministry of Youth and Sports Development (FMYSD) will collaborate with relevant stakeholders to identify potential training for training/mentoring.
  • The youths that are duly screened (and undergo the mandatory training where applicable) shall be advised to login to the portal provided by the NMFB to apply for the facility.

READ: CBN raises alarm over fraudulent loan offers, investment schemes with charged fees

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As a huge percentage of youths are engaged in the informal sector, the NYIF will facilitate the transition of informal enterprises owned by youths into the formal mainstream economy, where they can be supported comprehensively, build a bankable track record, and be accurately captured as active participants in economic development.

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