World Bank Warns Against Fraudulent Co-operative Bottom Up Project Grant

Fraudulent World Bank Bottom Up Project Grant

The World Bank has issued a statement dissociating itself from a fraudulent multi-purpose co-operative scheme and grants being advertised across some local communities in the Nigeria tagged Bottom up Project grant.

The Bank in a statement warning Nigerians to disregard the fraudulent scheme, said those behind the scheme have been promising unsuspecting members of the public huge bottom up project grants.

“Several correspondences targeting innocent citizens are being circulated falsely claiming that the World Bank is giving out money to individuals to do business and demanding processing fees of N2000 or more from prospective awardees. Please note that the World Bank is not behind this fraudulent multi-purpose scheme and ‘bottom-up’ grant,” said the spokesperson of the World Bank Group in Nigeria, Ms. Olufunke Olufon, in a statement.

“The World Bank does not request for any personal financial information for applicants to its programmes,” she added.

Urging the general public to verify any information regarding World Bank-assisted programs offered by the Bank from its website:, Ms. Olufon said the Bank would not be held responsible for any refunds of fees solicited by fraudsters purporting to act on its behalf.

Fraudulent World Bank Bottom Up Project Grant Scheme
Fraudulent World Bank Bottom Up Project Grant Scheme

In Akwa Ibom State most especially, a number of Microfinance institutions labeled as Model Microfinance institutions are currently going round collecting as much as N4,000 from unsuspecting Akwa Ibom people in the name of empowerment grants which they tag Bottom up Project grant from the World Bank and the United Nations.

If you have been approached by anyone about a project grant by the World Bank, United Nations etc. promising you a bottom up project grant ranging from N3 million to N10 million, please disregard such as this has been confirmed to be totally fraudulent and not connected whatsoever with the World Bank or United Nations.

World Bank programs are always very rigorous and systematic and do not demand any financial commitment or information from the beneficiaries.

Another Media source where you can confirm this is given below

World Bank warns Nigerians of fraudulent cooperative scheme, grants

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