By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: CBN Warns Nigerians Over Surge in Fraudulent Foreign Currency Transfer Claims
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | CBN Warns Nigerians Over Surge in Fraudulent Foreign Currency Transfer Claims

News

CBN Warns Nigerians Over Surge in Fraudulent Foreign Currency Transfer Claims

Olaitan Sodiq
Olaitan Sodiq
Published: June 13, 2025
Last updated: June 13, 2025
2 Min Read
Share
CBN Reacts to Naira Devaluation
SHARE

The Central Bank of Nigeria (CBN) has issued a stern warning to Nigerians about a rising trend of fraudulent foreign currency transfer claims, urging the public to be cautious of falsified SWIFT documents used to support these allegations.

In a statement on Tuesday, the bank confirmed it has been receiving numerous complaints from individuals, businesses, law firms, and government agencies claiming that foreign funds transferred to their accounts have not been credited.

According to CBN’s Acting Director of Corporate Communications, Mrs. Hakama Ali, the complaints are often accompanied by fake SWIFT MT103 forms and unverified SWIFT acknowledgment copies that falsely indicate the funds have been sent but were not actually transferred.

“The claims we are receiving often involve fake SWIFT messages that cannot be verified on the SWIFT platform, indicating that no funds were ever received by the beneficiaries,” the statement read.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

“This practice has become increasingly common, and it is imperative that Nigerians remain vigilant to avoid falling victim to these schemes.”

The CBN further clarified that it does not provide correspondent banking services for Nigerian banks nor hold accounts for private businesses. It emphasized that claims suggesting funds are “trapped” at the CBN are misleading and false.

READ ALSO: Nigeria’s Oil Imports Drop by 35% in Q2, CBN Report Reveals

The bank stressed that when issues arise regarding non-receipt of funds, the proper course of action is for the sender’s bank to trace the payment through the SWIFT system and resolve the issue directly with the sending bank.

It warned that unsubstantiated claims or the wrongful escalation of such matters to the CBN or law enforcement could lead to further complications, including legal consequences.

The CBN urged Nigerians with genuine cases of missing foreign funds to follow the appropriate channels, ensuring that their concerns are directed to the relevant financial institutions for proper investigation and resolution.

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:CBNSwiftTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Transfer News: Chelsea to Offload Jackson, Madueke, 8 Others | Daily Report Nigeria
Transfer News: Chelsea to Offload Jackson, Madueke, 8 Others
Sports
Club World Cup: Manchester City Smash Juventus 5–2, Seal Group ‘G’ Lead | Daily Report Nigeria
Club World Cup: Manchester City Smash Juventus 5–2, Seal Group ‘G’ Lead
Sports
National Judicial Council Sacks 10 Judges For Wrongdoing
National Judicial Council Sacks 10 Judges For Wrongdoing
News
Tinubu Signs Four Tax Bills into Law, Promises Economic Renewal | Daily Report Nigeria
Tinubu Signs Four Tax Bills into Law, Promises Economic Renewal
Business
Transfer : HamKam Sign Nigerian Teen Peter Edache | Daily Report Nigeria
Transfer : HamKam Sign Nigerian Teen Peter Edache
Sports

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Importer of ‘Jihadist Drug’ Arrested After Six Months on The Run - NDLEA | Daily Report Nigeria
News

Importer of ‘Jihadist Drug’ Arrested After Six Months on The Run – NDLEA

June 14, 2025
Pharmacists Council Seals 311 illegal Medicine Stores | Daily Report Nigeria
News

Pharmacists Council Seals 311 illegal Medicine Stores

June 14, 2025
How To Tackle Corruption in Govt, Improve Nigeria’s Economy – CeFTIW | Daily Report Nigeria
News

How To Tackle Corruption in Govt, Improve Nigeria’s Economy – CeFTIW

June 14, 2025
Woman Caught Trying to Sell 7-Year-Old Son for £4000 | Daily Report Nigeria
News

Woman Caught Trying to Sell 7-Year-Old Son for £4000

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?