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The Central Bank of Nigeria (CBN) has taken decisive action against illegal financial operators, issuing phone numbers and website links for citizens to report and verify dubious schemes.
Illegal financial activities, including Ponzi schemes like MMM and unlicensed loan companies, pose a threat to public confidence and the stability of Nigeria's financial system.
The Financial Services Regulation and Coordinating Committee (FSRCC), in partnership with the National Broadcasting Commission (NBC), aims to raise awareness about the dangers of engaging with these operators.
In a joint statement titled "Advisory on Illegal Financial Operators," the CBN advises Nigerians to exercise caution and due diligence before investing. They emphasize verifying the licensing status of companies and schemes through designated websites such as CBN, NAICOM, PenCom, and SEC.
Citizens are urged to report suspicious activities to law enforcement agencies via dedicated hotlines: Tolled Line: 0700-225-5226, Toll-Free Line: 0800-225-5226, and FSRCC Direct Line: +234-817-665-6273.
The CBN's proactive measures underscore its commitment to safeguarding the integrity of Nigeria's financial system and protecting the interests of its citizens.
