The Central Bank of Nigeria (CBN) yesterday warned Nigerians to beware of fraudulent financial institutions moving around to dupe them.

It also urged the citizens to insist on seeing the licences recognised by CBN if dubious elements approached them, to avoid falling victim.

Speaking on behalf of the CBN Governor Godwin Emefiele at the opening of a two-day ‘CBN Fair’, held in Ibadan, Oyo State, the CBN Director, Corporate Communication, Osita Nwanisobi, said the apex bank often received complaints from Nigerians on the activities of quack financial institutions, adding that people should be wary of who to transact business with.

He  said part of activities of the CBN under the leadership of Emefiele in engaging in development economy and intervening in critical sectors was to ensure the well-being of Nigerians, while also promoting growth and development.

Source: Segun Showunmi