ZULDAL group warns public against fraudulent loan schemes
The management of ZULDAL Group of Companies has warned the public to be cautious of individuals and groups falsely claiming to collect money on its behalf for loans or empowerment programs.
The caution extends to its proposed subsidiary, ZULDAL Microfinance Bank (MFB).
In a statement issued on Wednesday, the Group said, “ZULDAL Group of Companies and/or any of its subsidiaries, including the proposed ZULDAL MFB, has not authorized any staff, agent, consultant, or third party to collect fees or payments in connection with any proposed loan facility or empowerment program.”
The Group referred to prior notices broadcast on several radio stations, including Freedom Radio Kano, Dala FM, Arewa Radio, Wazobia FM, Express Radio, and Rahama Radio on 19th September, 2025, and published in the Daily Global Newspaper on 22nd October, 2025.
According to the statement, these notices remain valid and enforceable until further communication from the Group through official channels.
ZULDAL also clarified that the proposed Microfinance Bank has not yet commenced operations anywhere in Nigeria, pending approval and licensing from the Central Bank of Nigeria (CBN).
The statement warned that anyone demanding or receiving money in the name of ZULDAL or its subsidiaries is acting fraudulently, and the public should report such activities to security agencies.
The Group commended the Central Bank of Nigeria and other relevant security agencies for their role in averting further damage from fraudulent schemes.
The statement added that ZULDAL remains committed to transparency, regulatory compliance, and ethical business practices, and any official announcement about its operations will be made only through verified corporate channels.
Management urged the public to remain vigilant, noting that these measures are meant to protect Nigerians from scams.
The statement concluded by emphasizing that all loan-related solicitations purportedly linked to ZULDAL should be treated with caution.
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