CBN Dismisses Viral $46 Billion Grant Approval Letter as Fake
By Aboki Forex —
The Central Bank of Nigeria has dismissed as fake a viral document claiming it approved the release of $46 billion to a development organisation for national empowerment projects. The apex bank issued the clarification in a statement posted on its official X handle, warning the public against relying on the purported letter.
The forged document, dated August 13, 2026, alleged that CBN Governor Olayemi Cardoso had approved the release of $46 billion to Atufeg Empowerment and Development Center and one Amb. Engr. Atunde Femi Gabriel.
What the forged letter claimed
According to the fake letter circulating online, the funds were allegedly approved for the implementation of "national empowerment and developmental projects." The document further claimed the apex bank had authorised the immediate transfer of the funds to the beneficiaries.
"The CBN confirms full endorsement and authorises the immediate transfer of these funds to the beneficiary's designated account," the forged document stated.
The CBN categorically denied the authenticity of the letter, describing it as fabricated and misleading.
"This content is fake. Let the public be guided," the bank stated in its post on X.
To reinforce its position, the CBN shared an image of the purported document prominently marked "Fake Content." The apex bank reiterated that members of the public should rely solely on its official communication channels for information relating to its policies, programmes, and activities.
OPay and the growing fake document problem
The CBN's clarification comes days after fintech company OPay denied a viral notice claiming it would suspend transactions and account-related services from September 1, 2026. The false publication, which spread widely across social media platforms, urged customers to withdraw their funds ahead of an alleged shutdown, creating anxiety among users.
In response, OPay petitioned security agencies, including the Department of State Services and the Nigeria Police Force, requesting an investigation into those responsible for originating and circulating the false information.
Speaking at a press conference, OPay's Chief Legal Counsel, Akinfolabi Rokosu, said the company took the matter seriously because the rumour had the potential to undermine confidence in Nigeria's financial system and cause financial losses. He maintained that OPay remained fully operational and warned that those behind the fake publication would be held accountable.
The Nigeria Police Force National Cybercrime Centre arrested a 27-year-old woman, Hafsat Abubakar, over her alleged role in creating and disseminating the forged OPay document. The suspect was arrested on September 4, 2026, after investigators traced the viral publication using digital forensic tools.
According to Force Public Relations Officer ACP Anietie Iniedu, the case highlights the growing threat posed by digitally fabricated information capable of disrupting businesses, financial systems, and public confidence. The police said investigations are continuing and warned members of the public to verify sensitive information through official channels before sharing or acting on it.
What this means for businesses
Fraudulent documents falsely attributed to major institutions have become a recurring problem in Nigeria. Regulators and financial institutions warn that such misinformation can erode public confidence, trigger panic reactions, and expose unsuspecting members of the public to financial risks. For customers and businesses, the lesson from both cases is the same: confirm any notice about funds, accounts, or service shutdowns directly with the institution before acting on it.