The Lagos Police Command in collaboration with its Edo State counterpart have arrested the masterminds behind a fraud syndicate which had been impersonating the Central Bank of Nigeria, using the name “CBN Helping Hands Investment Scheme”.The syndicate had been deceiving unsuspecting members of the public into investing money with the CBN with a promise to double the invested sum within 24 hours.The head of the syndicate, Solomon Osiga Ezemede, who operated under various aliases such as Musa Mukarat and Solomon Musa, was arrested in Auchi, Edo State with his gang members has since been charged to court at the Ebute Metta Magistrate court and is currently cooling his heels in prison remand. The group reportedly perpetrated its nefarious activities by impersonating management and staff of the bank as well as by using fake Facebook accounts, fictitious mobile numbers, fake online profiles and sponsored false testimonials. Confirming that the Bank had to make a report about the activities of the group to the Police having been inundated with reports by their victims, CBN’s Acting Director, Corporate Communications Department, Mr. Osita Nwanisobi, said the move was necessary because the syndicate had succeeded in defrauding many victims, using the logo, seal, general signage and brand of the CBN. According to him, complaints received by the Bank bordered largely on funds lost to fraudsters who claimed to be agents of the CBN seeking to assist them obtain loans from the CBN.He emphasized that the CBN does not engage individuals to act as agents on its behalf for the coordination of its intervention programmes and cautioned members of the public to be wary of fraudsters, who parade themselves as staff or agents of the Bank to swindle them. Nwanisobi also advised members of the public to report suspected cases of fraud to the nearest police station in order to checkmate the activities of fraudsters. He further warned those engaged in perpetrating fraud in the name of the Bank to desist from such nefarious acts as security agencies had been adequately briefed to checkmate such fraudulent activities.