Police Bust Fake CBN Investment Scheme


Friday, February 05, 2021 05:29PM / by CBN/ Header Image Credit: Premium Times Nigeria


...Spokesman warns Nigerians to beware of fraudsters


The Police in Lagos, in a joint operation with the Edo State Command, have nabbed the mastermind behind the syndicate group, comprising over ten fraud groups impersonating the Central Bank of Nigeria (CBN), under the name "CBN Helping Hands Investment Scheme," to defraud unsuspecting members of the public.


The recent arrest of the head of the syndicate, Solomon Osiga Ezemede (operating with aliases: Musa Mukarat and Solomon Musa) along with his cohorts, in Auchi, Edo State, followed a formal report to the police by the CBN, stating that the group had severally impersonated management and staff of the Bank and deceived some members of the public to invest money with the CBN, with a promise to double the amount invested within 24 hours.


The syndicate reportedly carried out its fraudulent acts on fake CBN Facebook accounts, fictitious mobile numbers, fake online profiles and paid testimonials to induce unsuspecting members of the public into paying money into numerous banks accounts.


Police sources disclosed that many digital assets seized from the syndicates are currently being subjected to forensic analysis by the cyber intelligence units of the Nigeria Police and the CBN.


Meanwhile, the suspect, Solomon Ezemede, who was charged to the Magistrate's Court in Ebute Metta, Lagos, on a four-count charge of conspiracy, obtaining money by false pretense, fraudulent act and stealing, on December 30, 2020, has been remanded in prison. The case is billed for trial on March 3, 2021.


Confirming the report made by the CBN to the police, the Acting Director, Corporate Communications Department, Mr. Osita Nwanisobi, said the move was necessary because the syndicate had succeeded in defrauding many victims, using the logo, seal, general signage and brand of the CBN.


According to him, complaints received by the Bank bordered largely on funds lost to fraudsters who claimed to be agents of the CBN seeking to assist them obtain loans from the CBN.


While emphasizing that the CBN does not engage individuals to act as agents on its behalf for the coordination of its intervention programmes,  Mr. Nwanisobi cautioned members of the public to be wary of fraudsters, who parade themselves as staff or agents of the Bank to swindle them. He also advised members of the public to report suspected cases of fraud to the nearest police station in order to checkmate the activities of fraudsters.  He further warned those engaged in perpetrating fraud in the name of the Bank to desist from such nefarious acts as security agencies had been adequately briefed to checkmate such fraudulent activities.


Proshare Nigeria Pvt. Ltd.

Related News

1.      Caveat Emptor when Participating in Social Media Chatrooms Promoting Specific Stock Trading

2.     Azimo, Transfer Wise Not Registered IMTOs - CBN

3.     SEC Ramps Up Enforcement Activity in Wake of COVID-19

4.     CBN Issues Advisory on COVID-19 Related Financial Crimes

5.     FG Arraigns Promoters of Dantata Success over N2bn Fraud

6.     Beware of Fraudulent Loan Offers, Investment Schemes - CBN

7.     MACN and CBi Nigeria Launch Helpdesk to Reduce Corruption In Cargo Clearance In Nigeria

8.     SEC Charges John McAfee With Fraudulently Touting ICOs

9.     Africa Could Gain $89bn Annually by Curbing Illicit Financial Flows

10.  Global Banks Defy U.S. Crackdowns by Serving Oligarchs, Criminals and Terrorists

11.   FG Launches Central Database for Recovered Assets

12.  612,547kg of Drugs Seized in 2019 - NBS

13.  NIPC Is Not Promoting Any Investment Ponzi or Matrix Package

14.  RE: Alleged N1.08bn Corruption Scandal Hits DMO

15.  FCMB Clarifies Position on N573 Million Transfer

16.  UBA Reacts to False Media Reports Alleging of N41bn Fraud Involving NITEL in Liquidation

17.  Magu and Probe Panel: Letter from Magu's Lawyers to the Investigation Panel

18.  SEC Notifies of the Activities of an Illegal Operator IBSmartify Nigeria

19.  AfDB Places Zhongmei Eng. on 12-months Conditional Non-debarment for Fraudulent Practice

20. CBN Does Not Charge Any Fee on COVID-19 Loan Applications

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News