FinanceNews

JUST IN: CBN To End Ponzi Scheme

JUST IN: CBN To End Ponzi Scheme

The Central Bank of Nigeria (CBN) has made plans to end Ponzi Scheme in the country, while sensitizing Nigerians on the new digital currency, E-Naira.

According to VOICE OF NIGERIA, this was disclosed by the Director of the Corporate Communication Department, CBN, Mr Osita Nwanisobi.

Mr Osita Nwanisobi disclosed this to journalists during the CBN Fair tagged  ”Promoting Financial Stability and Economic Development” which was held at the Akanu Ibiam International Conference Centre, Abakaliki, Ebonyi State. Jamb Result

According to VOICE OF NIGERIA, Mr Osita Nwanisobi said, “What CBN is doing today is to arrest the situation of Ponzi scheme in Nigeria.

“The first thing we are doing is to sensitize Nigerians on the need to know that they are the first security to themselves.

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“When we sensitize you, you will know that there is no way someone would come to you to convince you that he/she has a product that can earn you 10% per month, which means 120% per annum and you would rush such business.

“This sensitization would help you to know if such business is registered with the CBN or not by going to the CBN website to find out. If it is an entity that is supposed to be regulated by the CBN, you will equally know.

“Moreso, most of these people do not have licence from anywhere but they are just operating on their own,” Nwanisobi. Information Guide Nigeria

Mr Osita Nwanisobi said that the CBN is doing its best to put an end to ponzi scheme as the scheme is hindering the efforts of the Central Bank of Nigeria to promote financial stability and economic development in the country.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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