• CBN warns Nigerians against investing in wonder banks

    CBN warns Nigerians against investing in wonder banks

    The Central Bank of Nigeria (CBN) has warned Nigerians to be careful of any deposit money institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC).

     

    The bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, made this known yesterday against the proliferation of wonder banks in the country in recent times.

    Okoroafor said such deposit money institutions were dubious present Ponzi schemes

    “At times like this when the economy has suffered some decline, Nigerians should be very […]