The Development
Bank of Nigeria Plc (DBN) has said the public should be wary of
fraudulent multi-purpose schemes that are out to defraud unsuspecting
persons.
It said the fraudsters would be
canvassing that the World Bank was giving out grants to individuals to
do business in Nigeria through DBN.
According
to a statement from the bank, members of the public are advised to note
that DBN is not involved in this fraudulent scheme and that the bank
only disburses loans to MSMEs through Participating Financial
Institutions (PFIs).
DBN warned “that it will not be
responsible for any loss or damage resulting from this fraudulent
scheme. The bank only recently commenced lending activities with N5
billion earmarked for disbursement through three microfinance banks
(MFBs)” it said.
Having been established as a
wholesale development finance institution, the disbursed amount is for
onward lending to over 20,000 micro, small and medium scale enterprises
(MSMEs) spread across the country.
The three MFBs for the pilot scheme,
that were unveiled at an agreement-signing ceremony recently in Abuja
were Fortis Microfinance Bank Plc, LAPO Microfinance Bank Limited and
NPF Microfinance Bank Plc.
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