February 11, 2024
#African News #News

CBN Distributing N500,000 Cash Grants to Nigerians? Fact Emerges


Viral social media posts claim that the Central Bank of Nigeria (CBN) is giving out 500,000 naira cash grants to citizens


Topnewstv.com.ng reports that as many Nigerians experience economic hardship occasioned by the removal of fuel subsidy by President Bola Ahmed Tinubu, the masses are in need of palliatives to cater for their welfare


A fact-checking platform investigated the claim of N500,000 cash grants and ruled that the supposed opportunity is yet another scam


FCT, Abuja – Some posts on the popular social networking site, Facebook, claim that the Central Bank of Nigeria (CBN) is giving out “palliative loans” for 2024.



Some of the posts can be found here, here and here.


Considering the claim was well-circulated, a fact-checking platform, Africa Check, scrutinised it.



Following its scrutiny, Africa Check said the claim was false and did not emanate from the CBN.


The platform stated that it investigated whether President Tinubu, through the CBN, is offering any loan service or giving out a half-a-million grant and found no evidence.




Leave a Reply