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Scam alert! Beware of Facebook account impersonating UBA bank to offer fake loans in Nigeria

IN SHORT: Africa Check has debunked several fake loan schemes on Facebook. This is yet another one impersonating UBA to offer fake loans to Nigerians.

The Facebook page UBA instant loan registration Nigeria claims to offer loans to Nigerians.

The page uses the name of United Bank for Africa (UBA). It also uses an avatar called Leo, a chatbot that communicates with UBA customers.

The post, dated 3 May 2023, reads: “We are delighted to announce that all UBA Customers are eligible for a float loan ranging from 10,000_5,000,000 Business loans of up to a million naira. Need loan? Send a direct message now! Cheers to the new banking.”

UBA is a popular commercial bank in Nigeria that offers a range of banking services including loans to individuals and businesses.

This is the only post found on the page and has been liked 30 times. Some users showed their interest in the loan. 

Similar posts can be here, here, here, here, here, here, here, here and here.

But is this Facebook page and these offers real? We checked.

UBABank_Scam

Fake account 

The poorly written post is a sign that the page is a scam. UBA is a company that employs communication professionals who are in charge of passing information to their customers.

The page is named UBA instant loan registration Nigeria. We found that UBA does not have a specific Facebook account for their loans services. We found three Meta-verified accounts of the bank on Facebook: UBA Group, UBA ChatBanking and UBA Foundation.

The number of followers on the fake account is low compared to the number of customers the bank has. The bank says it has over 20 million customers across 20 African countries.  

The original page of UBA has over 3 million followers and they identify as UBA Group on Facebook. The page also has a blue tick, showing it’s verified by Meta.

UBA loans

The African bank has a dedicated page on its website explaining the details of acquiring a loan.

The type of loans found on the website range from personal to asset finance. The requirements for acquiring each loan is also different, showing it is not as easy as the fake Facebook account paints it.

To get a loan, there is a specific lending platform made for that. Another option, according to the bank, is for customers to go to the bank.

Africa Check has reported several fake loan schemes on Facebook.

To help protect yourself and others against scams like this, see Africa Check’s guide to Facebook scams and how to spot them.

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