CBN warns Public to beware of Fraudulent EDIs

The Central Bank of Nigeria (CBN) has warned Nigerians to stay away from some Entrepreneurial Development Institutions (EDIs) claiming to be CBN)-accredited EDIs for its agribusiness Small and Medium Enterprises Investment Scheme (AGSMEIS).

The apex bank said the warning became necessary as its attention was recently drawn to the exploitation of unsuspecting members of the public by some these EDIs.

According to a statement issued today by Isaac Okoroafor, CBN’s director of corporate communication, those unaccredited bodies have continued to defraud and exploit members of the public by advertising for courses and charging training fees ranging on the pretext that the training is endorsed by the CBN and therefore would guarantee easy access to AGSMEIS loans.

“For the avoidance of doubt, the CBN has neither appointed nor accredited any organization to conduct any training on its behalf for the purpose of applying for AGSMEIS loans.

“The Public is therefore advised to beware of the activities of these non accredited private and public organisations, and report anyone or group that approaches them for these illegal and unauthorized trainings, to the law enforcement agencies”, the statement advised.