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Nigerians, beware of Facebook account impersonating Ecobank and offering fake loans

IN SHORT: A Facebook account impersonating Nigeria’s Ecobank is actually after your money. The company has urged customers to rely on its website and verified social media accounts for updates and offers. So stay alert and don’t be scammed. 

The Facebook page Eco Bank Credit Loan claims to offer loans to Nigerians. 


The page uses the name of and logo of Ecobank, seemingly in an effort to convince users of its legitimacy.

One post, dated 6 July 2023, reads, in part: “Apply for the Ecobank Fintech Challenge 2023 and stand a chance to partner with Ecobank.”

In Nigeria, Ecobank provides financial services and has over 250 branches. The bank is regulated by the Central Bank of Nigeria and the National Deposit Insurance Corporation.

Similar posts can be found here, here and here.

But is this Facebook page and its loan offer to be trusted? We checked.

Ecobank warns against scam offers

The suspicious page is named Eco Bank Credit Loan, while the bank’s official Facebook page is EcobankNigeria and is verified by Meta.

The verified account has over 390,000 followers. The suspicious account only has three. 

There is also no mention of “Ecobank Fintech Challenge 2023” on the bank’s website and official social media platforms. If this challenge were legit, Ecobank likely would’ve been promoting it on all its platforms.

In a tweet in 2022, Ecobank warned the public to stay alert and protect themselves against scams. 

“Ecobank will never call you to verify your PIN, BVN and other sensitive information. Send a message to any of our verified social media pages for enquiries or call 0700 500 0000 for assistance,” it wrote.

Africa Check has investigated several cases of false loans being offered on Facebook. Those who fall for these offers are at a risk of losing their money.

To help protect yourself, read our guide to Facebook scams and how to spot them.


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