Press Releases

NITDA denies endorsement of money-doubling schemes

The National Information Technology Development Agency (NITDA) has denied reports claiming that the Agency or its staff endorses money-doubling financial investment schemes.

The Agency has also denied any affiliation or endorsement of these platforms and strongly advises the general public on the need for caution when dealing with online money doubling schemes, especially via WhatsApp mobile application.

In a statement signed by Head, Corporate Affairs and External Relations, NITDA, Mrs Hadiza Umar warned:

“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.

“The Agency, therefore, has advised the general public to always verify if these firms have clearance from relevant Government Agencies mandated to license Corporate Investment Advisers.”

NITDA encouraged the public to be wary of any quick wins schemes, especially if it violates the Nigerian Data Protection Regulation.

The Agency further advised 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 people.


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