Stop Patronizing  Loan Sharks,CBN Cautions Nigerians

The Central Bank of Nigeria (CBN),has advised Nigerians  to stop seeking credit facilities from loan sharks for financial purposes.

CBN Governor, Godwin Emefiele, gave the advice at the end of the Monetary Policy Committee meeting held on Tuesday in Abuja.

He expressed  that there is no need for people to go for loan sharks because the CBN has put in place the avenue through which they can raise funds.

They include the microfinance banks and target credit facilities established by the government to cater to the needs of the operators of Small and Medium Scale Enterprises (SMSEs).

He added:“You don’t have to know anybody, just go to the portal, fill the form, send your data, and if it is correct, you will be able to access loans.We have a large number of testimonials from people who have accessed the facility without knowing anybody and they have benefitted from it.

“The bank is making effort to stop loan sharks, and when these people are found, they will be dealt with mercilessly.”