CBN tells Nigerians to stop patronising unlicensed financial institutions

The Central Bank of Nigeria (CBN) has asked Nigerians to as a matter of urgency desist from patronising unlicensed financial institutions selling financial products.

Making the appeal at a two-day sensitisation tour of Taraba State, the CBN’s Director of Corporate Communications, Osita Obi, represented by the Branch Controller, Jalingo, Idris Dagona, pleaded with Nigerians to distance themselves from such entities.

Wondering why Nigerians have continued to fall victims to unlicensed financial entities, the CBN, according to him, has successfully refunded N95.2bn to customers in 2021.

Urging the public to desist from putting their monies in such unlicensed financial institutions, he said: “If you are in doubt, ask them for their license. You must try and appraise these people to make sure that what they are saying is what they are doing.”