First Bank Issues Scam Alert


First Bank Nigeria has alerted consumers on fraudulent investment opportunities introduced by fraudsters on WhatsApp designed to dupe unsuspecting consumers.

The fraudsters opened some WhatsApp groups and added people as members. The groups have such names as First Bank Investments, First Bank/CBN Investments, etc. Members were told to invest some amount of money ranging from ₦10,000 to ₦1 million with the promise to be given double their investment within one hour or more.

Consumer Life investigations have shown that group members who transferred money into the bank account of the admins never got their money back or the increment on the amount ‘invested’. Such people were quickly removed and blocked from having access to the group or the admins. Many who followed the links to such WhatsApp groups have lost huge sums of money to the scammers.

Meanwhile, First Bank has denied any link with any of the groups using its name for such fraudulent activities. Below is the response of the bank to the scam.

“We would like to draw your attention to fraudulent WhatsApp messages from various fake investment entities on spurious investment opportunities. We advise that you do not accept invitation links to join WhatsApp groups created by such fake entities as they have no affiliation with First Bank or any of its registered subsidiaries.

Remember, never divulge your personal account details such as full debit card numbers, PIN, Online banking passwords, One-time passwords, etc. to anyone via phone call, email, SMS or WhatsApp, even when they provide valid information about your account. Whenever you are in doubt of any communication you receive from First Bank, please always check with FirstContact on 01-4485500 or any FirstBank branch close to you.”

Please share this post