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MSMEs: FG Cautions Unsuspecting Applicants Against Fraudsters


The Federal Government of Nigeria has stated that applicants will not pay any ‘facilitation fee’ to access its intervention grant for Micro, Small and Medium Enterprises (MSMEs), therefore, it has issued strong warnings to unsuspecting applicants against fraudsters.

Mrs Mariam Katagum, the Minister of State for Industry, Trade and Investment, at a news conference on the implementation process of the Survival Fund on Thursday in Abuja said;

“Applicants are to access the fund at no cost since the initiative is borne out of the Federal Government’s continued commitment to helping cushion the impact of the COVID-19 pandemic on the economy.

“The Survival Fund will not at any time or for any reason, request payment or facilitation fees to access the grants.

“We will, however, like to draw the attention of the public to attempts by scammers and other undesirable elements to swindle innocent Nigerians with promises of assured disbursements for a fee.

“The public is encouraged to report any such nefarious activities to the nearest security agents and follow up with a report to the PDO via the mediums provided on the website.

“The PDO has received reports of some attempted cyber-attacks on the application website.

“We would like to assure the public that the application system is secured with multiple levels of encryption and any information loaded on the official application page is saved from cyber-attacks of any kind.”

The minister also lauded the Federal Government for its efforts at supporting MSMEs to strive amidst the COVI9-19 pandemic period.

“As at 8.3 a.m. this morning, total successful registrations stood at 174,574 with Kano, Kaduna, Lagos, Katsina and the FCT having the highest applications.

“Some states and local governments that have low access to network connectivity and internet services are experiencing delays with registration.

“However, we also have feedback that state governments and trade associations are putting in place innovative strategies to deal with the situation.

“On behalf of all MSMEs across the country, I want to thank His Excellency President Muhammadu Buhari for this critical intervention at this time of economic hardship coupled with the COVID-19 pandemic.

“I also want to place on record our continued appreciation to His Excellency, the Vice-President, Prof. Yemi Osinbajo for his steadfast leadership and guidance since the conception of this scheme,”

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