The Central Bank of Nigeria (CBN) has cautioned the public to beware of fraudulent SWIFT messages and baseless claims regarding foreign currency transfers allegedly withheld by Nigerian banks or the apex bank.
In a statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the CBN revealed a surge in petitions from individuals, law firms, government agencies, and private entities claiming their foreign currency remittances had not been credited to their accounts.
“These claims are often accompanied by fake documents, such as SWIFT MT103 and SWIFT acknowledgement copies, purportedly as proof of remittance,” Ali stated.
“The funds referenced in these claims have not been received by the beneficiary banks, making their application to the beneficiaries’ accounts impossible.”
The bank clarified that such documents are unreliable and cannot be traced on the SWIFT platform. It urged senders of foreign currency to use the formal tracer process through their banks instead of escalating issues to the CBN or law enforcement agencies.
“For the avoidance of doubt, the CBN neither provides correspondent banking services for Nigerian banks in foreign payments nor maintains accounts for private business entities.
Consequently, the claim that alleged inflows are trapped within the CBN is both spurious and deceitful,” Ali emphasized.
The apex bank warned that individuals or organizations making illegitimate claims would face severe legal consequences, noting its readiness to collaborate with law enforcement agencies to prosecute offenders.
Nigerians were urged to remain vigilant against such fraudulent activities and to follow proper procedures when addressing concerns related to foreign currency transfers.
