The Bank of Industry (BOI) has issued a public warning over fake websites and messages claiming to offer fresh applications and disbursement for the FG MSME Intervention Fund, but the announcement has also triggered fresh concerns from Nigerians still waiting for loan payments.
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In a notice shared by the bank, BOI said no new applications are currently being accepted for the FG MSME Intervention Fund. The bank warned members of the public to avoid fraudulent links, fake portals, and unofficial messages requesting payments or personal details in the name of the scheme.
BOI said the scam messages and websites are not connected to the bank and advised Nigerians to rely only on verified communication channels for information about government-backed intervention programmes.
However, the statement quickly drew reactions from Nigerians who said their major concern is not about new applications but the delay in disbursement for applicants who had already completed different stages of the process.
Many applicants said they had already received offer letters, signed documents, or completed verification requirements but were still waiting for payment months later. Others complained that the long delay and lack of clear public updates have created confusion around the intervention programme.
The reactions also showed growing frustration among small business owners and MSMEs who applied for the FG-backed loan programme with expectations that the funds would help support their businesses amid economic pressure and rising operating costs.
Some applicants also demanded clarity on the status of other intervention programmes linked to BOI, including TISSF and other federal government loan schemes.
The latest development highlights the increasing concern around intervention loan disbursement in Nigeria, especially as several applicants continue to wait for updates despite completing parts of the application process.
While BOI focused its latest notice on fraud prevention and fake application portals, many Nigerians are now calling on the bank and relevant authorities to provide clearer information about pending disbursements and the next phase of the intervention programme.
The bank advised Nigerians not to make payments to anyone claiming to guarantee loan approval or disbursement and urged the public to report suspicious messages or websites linked to the scheme.
