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Beware of Wonder Banks – CBN warns public

By on December 12, 2015

The Central Bank of Nigeria (CBN) has warned members of the public to be mindful of the activities of illicit finance houses (Wonder Banks) in order not to fall  prey by losing their hard-earned money in the pursuit of attractive but fictitious “returns on investment.”
Director, Finance Department of the CBN, Mrs. Tope Omage, who gave the warning during her opening remarks at the two-day sensitisation Fair 2015, holding in Jos, also  pleaded that the public should always endeavour to verify such mouth-watering offers by prospective finance houses before parting with their money.
She added that “you can always visit the CBN website or any branch of the CBN nearest to you for such confirmation.”
Omage also reminded her audience that the Bank Verification Number (BVN) registration was still on-going, adding that those who were either yet to register or link their bank accounts could do so by visiting their banks personally for the biometric capturing.
She said that, “The management of the Central Bank of Nigeria attach high premium and commitment to this sensitisation programme which main objective is to create awareness about the economic development initiatives and programmes of the bank with a view explaining to you the opportunities available and how best to leverage on them.
“The various initiatives anchored on monetary policy, modernization of the payment system, development financing programmes, and financial literacy are designed to revamp, reposition and reengineer vital sectors of the economy.
“Some of these initiatives include Agricultural Credit Guarantee Scheme Fund (ACGSF), Micro Small and Medium Scale Enterprises (MSME), Micro Finance Policy, Commercial Agricultural Credit Scheme (CACS), cash – less policy, electronic payment system (alternative payment channels), mobile banking, rights of consumers of financial services, financial inclusion and pursuant of sound and stable financial system.”
Welcoming the guests earlier, the Branch Controller of CBN in Jos, Mr. Matthias Kurah said: “It is heartwarming to note that over the years the CBN has continued to evolve in policy formulations and implementation to tackle some of the critical challenges confronting us as a nation. This event presents a unique opportunity for the CBN to showcase some of its developmental initiatives and interventions in the past few years.”

 

[ThisDay]