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‘We will never request your OTP or business PIN’: Moniepoint warns Nigerians against fake Facebook pages

IN SHORT: This Facebook page asking for your banking details might be out to scam you by impersonating Moniepoint. The bank has urged customers to protect their money by not sharing personal details with anyone.

The Facebook page Moniepoint Overdraft is offering instant loans to Nigerians.

A post from 13 September 2023 reads: “Get instant loan credit alert for your business and rent, when you apply with your Moniepoint account with low interest rate and no collaterals. Apply now.”

The post includes a website link where interested users can supposedly apply.

Moniepoint is a financial services provider catering to small and medium businesses in Nigeria. 

The page has made a similar offer here.

But is the page and its offers legit? We checked.


‘Do not disclose your PIN’

The page Moniepoint Overdraft only has 28 followers, which is strange for a company that claims to have already assisted over 1.5 million businesses. The suspicious page was created on 9 September 2023.

By comparison, the official Facebook page of the company has over 87,000 followers and was created in May 2020.

We clicked on the link attached to the post and landed on a web form headlined: “MONIEPOINT NIGERIA OVERDRAFT LOAN.” We were requested to fill in our Moniepoint account details, including username, PIN and cellphone number. Sharing such information gives fraudsters full access to your bank account. They could steal your money or use that information to commit fraud in your name.

In a Facebook post, the company warned users against engaging with fake accounts: “We will never request your OTP or business PIN at any point.”

In another post, Moniepoint said once fraudsters have your banking details, they could use them for criminal activity that could land you in jail, as the bank “won’t be able to tell if you’re the one logging in or not”.  

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

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