SMEDAN Cautions Against Fake Loan Application, Offers

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has cautioned small business owners against fraudulent application of loan offers on site falsely advertising loans ranging from N10,000 to N100 million, purportedly in collaboration with the Central Bank of Nigeria (CBN).

SMEDAN’s head of Corporate Affairs, Alhaji Moshood Lawal, strongly advised the public to steer clear of deceptive sites circulating on social media platforms.

This site falsely claims that the CBN and SMEDAN are offering loans ranging from N10,000 to N100 million for businesses in Nigeria.

Lawal asserts unequivocally that the site is fraudulent, emphasising that SMEDAN has never initiated such loan programmes in any of its activities.

Furthermore, Lawal clarifies that SMEDAN has not entered into any agreement or collaboration with the CBN for loans of this nature.

The public is urged to verify information about SMEDAN’s programmes and activities exclusively through its official website, state offices, and zonal offices nationwide.

Verifiable information can also be obtained directly from SMEDAN’s Corporate Headquarters at Idu Industrial Layout, Abuja.

Lawal issued a stern warning to scammers, cautioning them to cease their unlawful activities. He emphasises that efforts are underway to track and apprehend them, with the intention of handing them over to relevant security agencies.