MSME Survival fund: Beware of fraudsters demanding account details, FG warns

MSME Survival fund: Beware of fraudsters demanding account details, FG warns
January 17
18:47 2022

The federal government has warned Nigerians to be wary of “fraudsters” claiming to be disbursing N80,000 under the micro, small and medium enterprise (MSME) survival fund scheme.

The MSME survival fund scheme is a component of the Nigerian economic sustainability plan (NESP) developed by a committee headed by Vice-President Yemi Osinbajo.

According to NAN, Tola Johnson, coordinator, project delivery office (PDO) of the scheme, said this in a statement issued on Monday.

He said that the news of such payment was the handiwork of fraudsters seeking to steal from unsuspecting Nigerians.


“The fraudsters scam the public under the guise of the MSME Survival Fund Scheme,” he said.

Johnson said that tracks of the survival fund scheme have closed, adding that the initial verification process did not require beneficiaries to drop their account details as being demanded by fraudsters in the ongoing scam.

“The public is hereby notified that request circulated via social media and SMS for people to disclose their account details to benefit from the Survival Fund Scheme is a scam,” he said.


“Hence, members of the public should disregard such requests. The public is asked to note that the only valid number for inquiries and information for the Survival Fund Scheme is 07004000500.

“The Scheme is also not disbursing the sum of N80,000 or any amount in grant or loan to individuals or businesses as advertised by the fraudsters.”

Johnson said that the committee in charge of the survival fund headed by Maryam Katagum, minister of state for industry, trade and investment, has contacted law enforcement agencies to track and bring the fraudsters to justice.

He added that the federal government would communicate further implementation of the survival fund scheme to the public through formal channels established by the steering committee.



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