NBSSI/Mastercard Foundation’s Nkosuo Program Warns Applicants Over Scam Charges

NBSSI/Mastercard Foundation's Nkosuo Program Warns Applicants Over Scam Charges

NBSSI/Mastercard Foundation's Nkosuo Program Warns Applicants Over Scam Charges

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The National Board for Small Scale Industries (NBSSI) is cautioning the public against fraudsters who have been using text messages requesting unapproved charges from NBSSI/Mastercard Foundation’s Nkosuo Program applicants.

A statement issued on Monday said, “the Board has not sanctioned the collection of any fee from applicants for processing of their loan applications, NBSSI does not own any VODA CASH account, and does not operate or have any other mobile number account”.

NBSSI has therefore not contracted anybody to collect fees on its behalf

NBSSI/Mastercard Foundation's Nkosuo Program Warns Applicants Over Scam Charges
NBSSI/Mastercard Foundation’s Nkosuo Program Warns Applicants Over Scam Charges

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 “The Board, therefore, cautions the general public against the payment of fees to any person, group or association requesting for such charges under the pretence of working with NBSSI or influencing the review and disbursement processes. The public is encouraged to report any such demands to the nearest Police Station.”

“We wish to inform to all applicants that due diligence is currently going on. Soon, review of applications and disbursements of the Nkosuo loans will commence with the assistance of the Participating Financial Institutions (PFIs). We, therefore, urge you to exercise patience as the procedures are carried out. Our commitment to supporting Micro, Small and Medium Enterprises remains unwavering.” 

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