Central Bank of Nigeria (CBN) Warns Nigerians.
Posted by Eaz :- 16/09/2016 The Central Bank of Nigeria (CBN) has warned Nigerians to be careful of any deposit money institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC) especially the trending MMM Nigeria community.The bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, made this known yesterday against the proliferation of wonder banks in the countryin recent times.Okoroafor said such deposit money institutionswere dubious present Ponzi schemes.“At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with. Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise,” he advised.He warned Nigerians to beware of the so-calledwonder banks, explaining that they were makeshift institutions to dupe people.“We can vouch for the banking system. The deposit money banks are the only licensed in...
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