NFIU Denounces Fake Circular Linking It to BNBEX
By Patience Ikpeme
The Nigerian Financial Intelligence Unit (NFIU) has disassociated itself from claims made in a circulating document that links the unit to an entity named BNBEX.
The NFIU stated that it has no affiliation with BNBEX and has not validated any of its operations. This pronouncement serves as a clear warning to the public against falling victim to misinformation and potential scams.
In a statement signed by Sani Tukur, Head of the Strategic Communications Department of the NFIU, the agency denied authorizing or endorsing the document. The NFIU stressed that it has no connection to any of BNBEX’s regulatory or compliance activities.
The NFIU further stated that the so-called “Nigerian Financial Surveillance Regulation” mentioned in the circular does not exist within Nigerian law or its regulatory frameworks. The agency views this reference as a clear attempt to mislead the public and financial stakeholders.
Moreover, the circulating document fraudulently used the NFIU logo and insignia, which the NFIU confirmed to be counterfeit. The unit also clarified its official address, stating that it has no office at the Central Business District, Abuja, or any location other than its official head office at No. 1 Monrovia Street, Wuse II, Abuja.
The NFIU has recently been actively issuing warnings about various fraudulent schemes, including fake wire transfer petitions and forged documents used to make fraudulent fund claims.
These scams often involve shell companies and manipulated financial documents, posing significant risks to Nigerian banks and the general public. The NFIU has advised financial institutions to conduct thorough due diligence and urged the public to be cautious of any financial claims that cannot be verified.
The NFIU’s vigilance extends to educating and advising stakeholders on emerging threats to Nigeria’s financial system. It issues advisories to banks and law firms to meticulously verify client information and to promptly reject any suspicious claims. This proactive stance is part of its broader mandate to protect the integrity of Nigeria’s financial system and maintain public trust.
Given the increasing sophistication of financial fraud, the NFIU stressed the importance of collaboration among financial institutions, law enforcement agencies, and the public. It encourages the reporting of any suspicious activities and provides official channels for seeking clarifications or reporting fraudulent information falsely attributed to the NFIU. This collaborative effort is essential to curbing financial crimes and safeguarding Nigeria’s economy.
The unit’s ongoing efforts to combat financial crimes and fraud are vital for Nigeria’s financial stability. Stakeholders are urged to remain vigilant, rely on authentic communications from the NFIU, and report any suspicious activities to help maintain the integrity of the financial system.
