The Katsina State Enterprise Development Agency KASEDA has raised an urgent alert over fraudulent activities targeting beneficiaries of its MSMEs loan initiative in partnership with Sterling Bank.
In a public notice, KASEDA cautioned beneficiaries to beware of scammers impersonating officials and falsely claiming that the disbursed loan amount is incomplete. These fraudsters reportedly demand a percentage of the loan under the pretense of facilitating an alleged outstanding balance.
KASEDA clarified that the loan amount received by beneficiaries is the full and approved sum, with no additional disbursements. It emphasized that at no time will KASEDA or Sterling Bank request any form of payment for accessing extra funds.
The agency also reiterated that while it provides free grants for small businesses, loans remain strictly repayable under agreed terms with no hidden charges.
Beneficiaries and the public are urged to remain vigilant and report any suspicious activities to KASEDA immediately.
Press Released Signed By Hauwa Ibrahim Jikamshi
Head, Public Relations Unit, KASEDA
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