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1.The
publicity campaigns by the Central Bank of Nigeria (CBN) and the Government
of the Federal Republic of Nigeria have proved successful in sensitising
the public about the menace of advance fee fraud and the falsehood of
claims that easy money could be made in Nigeria. Consequently, the reported
incidence of advance fee fraud (A.K.A. '419'), has declined significantly.
Nevertheless, there are still some people who have continued to fall victim
to the solicitations of advance fee fraudsters. The warning is, therefore,
specifically intended for the benefit of those misguided people who, in
the quest to make easy money at the expense of Nigeria, are defrauded
by international fraudsters.
2.The
advance fee fraud is perpetrated by enticing the victim with a bogus 'business'
proposal which promises millions of US dollars as a reward. The scam letter
usually promises to transfer huge amounts of money, usually in US dollars,
purported to be part proceeds of certain contracts, to the addressee's
bank account, to be shared in some proportion between the parties. A favourable
response to the letter is followed by excuses why the funds cannot be
remitted readily and subsequently by demands for proportionate sharing
of payments for various 'taxes' and 'fees' supposedly to facilitate the
processing and remittance of the alleged funds. The use of 'fake' Government,
Central Bank of Nigeria, Nigerian National Petroleum Corporation, etc.
documents is a common practice.
3.The
fraudsters usually request that the transaction be done under the cover
of confidentiality. Sometimes, the 'victims' are invited to Nigeria where
they are given red-carpet reception and attended to by the fraudsters,
posing as Nigerian Government officials. Quite often the fraudsters invent
bogus Government committees purported to have the payments. Also, it is
not unusual for them to contrive fake publications in the newspapers evidencing
purported approvals to transfer non-existent funds.
4.To
consummate the transaction, the 'victim' would be required to pay 'advance
fees' for various purposes: e.g. processing fees, unforeseen taxes, licence
fees, registration fees, signing/legal fees, fees for National Economic
Recovery Fund, VAT, audit fees, insurance coverage fees, etc. The collection
of these 'advance fees' is actually the real objective of the scam!
5.A
recent variant of the scam directed primarily at charitable organisations
and religious bodies overseas involves bogus inheritance under a will.
Again the sole aim is to collect the 'advance fees' already described
above. A new strategy that has also been used to defraud the 'victims'
is an offer to use chemicals to transform ordinary paper into United States
dollar bills, which would be subsequently shared by the parties.
6.You
are again warned in your own interest not be become yet another dupe to
these fraudulent solicitations or schemes. Genuine and prospective investors
in Nigeria are advised to consult their home Chambers' of Commerce and
Industry, or Nigeria's Chambers' of Commerce and Industry, Manufacturers'
Associations of Nigeria, Federal Ministries of Commerce and Industry,
Nigerian Missions in their countries of origin, their embassies or High
Commissions in Nigeria for proper briefing and advice.
7.The
Central Bank and indeed, the Federal Government of Nigeria cannot and
should not be held responsible for bogus and shady deals transacted with
criminal intentions. As a responsible corporate body, the Central Bank
of Nigeria is once again warning all recipients of fraudulent letters
on bogus deals, that there are no contract payments trapped in the bank's
vaults. They are once again put on notice that all documents appertaining
to the payment, claims, or transfers purportedly issued by the bank, its
senior executives or the Government of the Federal Republic of Nigeria
for the various purposes described above are all forgeries, bogus and
fraudulent.
8.Please
join the Central Bank and the Federal Government of Nigeria to fight the
criminal syndicates who play on the gullibility and greed of their victims
by reporting any solicitation to your local law enforcement agencies or
the local International Police Organisation (Interpol).
9.You
have been warned several times before! You have been warned again!!
CENTRAL BANK
OF NIGERIA
Samuel Ladoke
Akintola Way,
P.M.B. 0187,
Garki, Abuja,
NIGERIA
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