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Home Financial Literacy Small Business

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

Chike Olisah by Chike Olisah
June 29, 2020
in Small Business
Excess charges: CBN return over N60 billion to customers

Isaac-Okoroafor

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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.

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READ MORE: CBN grants approval for banks to debit accounts of loan defaulters 

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.”

READ MORE: CBN warns SMEs not to pay any fee to access its N50 billion stimulus package

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.

He then advised prospective applicants to approach NIRSAL Microfinance Bank or any CBN branch nearest to them or tweet at @cenbank or @NirsalMFB for clarification on the procedure for accessing the TCF or any of the CBN-related loans.

Nairametrics had reported a few days ago that the apex bank, through NIRSAL Microfinance, had disbursed N49 billion out of the N50 billion targeted facility for households and small businesses to over 80,000 beneficiaries. This is just as the CBN Director also said that the bank had earlier announced a couple of measures to ensure that Nigeria’s economy does not slip back into recession due to the coronavirus pandemic.


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Tags: Business NewsCBNIsaac OkoroaforNIRSAL Microfinance BankPhilip Yila Yusuf
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 11

  1. Okachi Moses Ogar says:
    June 29, 2020 at 12:26 pm

    please I need help. My loan was approved and I submitted my Bvn and account details for about a week now and I have not received the credit alert. Please what do I do

    Reply
    • Anonymous says:
      June 30, 2020 at 12:02 am

      When was ur loan approved and when did u apply?

      Reply
    • Baji Joshua says:
      June 30, 2020 at 3:07 am

      Edonh Joshua
      Have aproved the loan to him but didnt paid him .what is reason.

      Reply
  2. Ike eugenia uzoamaka says:
    June 30, 2020 at 9:21 am

    My Nirsal account was credited on 5june . I got to know on 12 because i didnt get alert. Now onitsha nirsal nmfb said they will get a response from CBN before they transfer my money to my commercial bank. Is 3weeks now i filled the transfer of fund. Am not happy the way everything is going. Please help me. I already made so much commitments on these money, planned the business that will yield twice the money to enable me pay back easily

    Reply
  3. Bisong Mathew ochang says:
    July 1, 2020 at 4:15 pm

    I summited my form on Friday June 26 2020,and have not gotten a notification from the bank.please what should I do? Thanks

    Reply
  4. YOADE Festus Abioye says:
    July 5, 2020 at 11:07 pm

    I was given approval for the past three weeks ago and I didn’t see alert and those people that we submitted together have seen their own alert and I don’t know whether is cos Nirsal microfinance account that I used and have changed first bank still I’m yet to see d alert what do I do o

    Reply
  5. Umwemuyaikene Kingsley Esemuede says:
    July 22, 2020 at 8:00 pm

    I received alart but not in the account details i submitted, but in nmfb account which i can’t access, because no account number is sent to me,and there’s no way I can reach the bank(nmfb)

    Reply
  6. Adekunle Banjoko says:
    August 6, 2020 at 8:45 am

    I submit my application toward the end of June and it was successfully received but up till now no message

    Reply
  7. Kamorudeen says:
    August 10, 2020 at 3:41 am

    Pls sir, I’ve submitted my application since April and my loan was approved in June. But I’ve not been credited since then. Please help me out. Thanks

    Reply
  8. Bamiteko Temitayo Mary says:
    January 31, 2021 at 10:02 pm

    Good day please i applied for the NIRSAL household loan since last year May but not yet approved please help me out thanks.

    Reply
  9. Mohammed Tijjani musa says:
    July 8, 2023 at 9:27 am

    That is good

    Reply

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