Central Bank Warns Against Fake Entrepreneurship Development Institutions

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Nigeria’s apex bank,CBN,, yesterday warned the public against ongoing exploitation of Nigerians by fake Entrepreneurship Development Institutions (EDIs). The institutions, the apex bank said in a statement, are claiming to be CBN-accredited EDIs for Agri- Business Small and Medium Enterprises Investment Scheme (AGSMEIS).

It said the unaccredited bodies have continued to defraud and exploit members of the public by advertising for courses and charging training fees ranging on the pretext that the training is endorsed by the CBN and therefore would guarantee easy access to AGSMEIS loans.

“For the avoidance of doubt, the CBN has neither appointed nor accredited any organization to conduct any training on its behalf for the purpose of applying for AGSMEIS loans,” it said.

The public is therefore advised to beware of the activities of these non- accredited private and public organisations, and report anyone or group that approaches them for these illegal and unauthorized trainings, to the law enforcement agencies.