Ekiti State government on Monday cautioned residents against engaging in business transactions with unverified loan givers to avoid being scammed.
Commissioner for Information and Values Orientation, Mr Akin Omole, said in a statement issued in Ado-Ekiti that some unscrupulous persons and organisations were going about baiting people with attractive loan packages to swindle the gullible.
He described a particular viral video of some women in the state that were allegedly swindled by one of such companies as unfortunate and sad.
He expressed government’s sympathy with the fraud victims, stressing that the issue was particularly lamentable because the government already established a Microfinance and Enterprise Development Agency where traders and artisans could obtain soft loans.
According to him, relevant security agencies are already on the trail of the swindlers.
The commissioner also advised Ekiti State people to make proper enquiries at the Ministry of Trade and Industries for available loan facilities for small and medium scale businesses to avoid falling prey to fraudsters.
