NITDA Denies Endorsing Money Doubling Financial Investment Schemes

The National Information Technology Development Agency (NITDA) has asked the general public to disregard any fake news claiming that the Agency or its staff endorses money doubling Financial Investments scheme.


The Head, Corporate Affairs and External Relations
Mrs. Hadiza Umar of the Agency in a statement refuted any affiliation or endorsement of these platforms and strongly advises the general public on the need for caution when dealing with online money doubling scheme especially via whatsApp mobile Application.

She said that these fraudulent Financial Investment companies lure users by requesting that you join their WhatsApp group, consequently, they access records of citizens’ phone numbers. These phone numbers can further be used in SMS scams as well as other various cybercrimes.

She advised Nigerians to always verify if these firms have clearance from relevant Government Agencies mandated to license Corporate Investment Advisers.

Umar further advised the public to be wary of any quick win schemes especially if it violates the Nigerian Data Protection Regulation.

“NITDA strongly advises the general public to disregard the malicious investment scheme even if the people behind such purportedly use NITDA’s name, its affiliates, logo and or staff of the agency as a bait to lure the people”, the statement said.

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