NewStats: 3,262,364 , 8,176,934 topics. Date: Monday, 02 June 2025 at 12:37 AM 6r3k1e

The Central Bank of Nigeria (CBN) has advised Nigerians to avoid dealing with unlicensed or illegal financial operators in the country through its Financial Services Regulation Coordinating Committee (FSRCC).

The advice was given by the CBN through the FSRCC in a statement posted on its website on Monday.

According to the report, illegal financial operators use extraordinary returns on investments as bait to entice and defraud unsuspecting of the public.

It also expressed concern about the growing activities of Illegal Financial Operators (IFOs), saying they pose a serious risk to public trust and the stability of the Nigerian financial system.

The CBN statement reads in part, “The FSRCC in its continuing efforts to end the scourge of IFOs in Nigeria, hereby issues the following advisory:

“The general public is advised to refrain from dealing with unlicensed or illegal financial operators, who lure and defraud unsuspecting of the public by offering extra-ordinary returns on investments as bait.

“ of the public are advised to visit the websites of the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC) and other relevant member agencies of the FSRCC to the registration and license status of such companies and schemes before investing in them.

“You are also advised to report any individual or entities suspected to be involved in such nefarious activities to the law enforcement agencies.

”It assured that financial regulatory agencies shall continue to carry out all necessary due diligence before ing or licensing any operator under their regulatory purview.

https://newsroundtheclock.com/cbn-urges-nigerians-to-shun-activities-with-unlicensed-financial-operators/

1

Are they gonna listen..an average Nigerian is greedy..
Well that should be blamed on the west I guess or blame Nigeria as a country..

Slava Nigeria..

Hmmm ok

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This same CBN guy that has been on streak of failure. For crying out loud, Nigeria is in ruins!

2

Guy see what ds one is saying, a fake presidential aspirant
A politician shouldn't hold d post of the Apex bank of a nation.......

Nigerians owning the like of sokoloan will be like: I can't repay you because the fg ask me to shun you

Doing business with however is strictly my private life.

Meanwhile thank CBN for their time

Waste of time, they won't listen.

lol wey people dey look for free money now I hear u.....


For say people dey hear word ordinary Sportybett, Bet9jaa nd co no go get customer again cos dat thing too chop people.....

How do we know them?

The highest thieves that can't implement how to track P.O.S subscribers.

Central Burglar of Nigeria.

Keep urging

Clowns

Nigerians and online loans

christaddicted:
How do we know them?

Loans apps are criminals

Avoid them

The économy pushed Nigerians to them.

PrinceOfLagos:

Loans apps are criminals

Avoid them

Honestly, they are.

Just fix Nigeria, ponzi schemes and illegal loam apps will die a natural death

PrinceOfLagos:

Loans apps are criminals

Avoid them

By all means.

oluwaseyi0:
Nigerians owning the like of sokoloan will be like: I can't repay you because the fg ask me to shun you

Those online loan apps are criminals

Anybody owing them should not pay back

Why would they come to the country to do illegal business, be threatening people and still won't pay tax to the government

That's wrong

Sokoloan comes to mind

FERNANDEZISBACK:
Are they gonna listen..an average Nigerian is greedy..
Well that should be blamed on the west I guess or blame Nigeria as a country..

Slava Nigeria..

slave noise

Block them...Stop all this yeye advice.

occfx:
Just fix Nigeria, ponzi schemes and illegal loam apps will die a natural death

I don't think so. Humans are naturally greedy all over the world. Although it will reduce to the barest minimum.

Useless CBN
Useless FG
Useless policies

yrex01:
slave noise

It sounds great to your ear right?
I want it to keep ringing all the days of your li**..