Hundreds of Nigerians have thronged various bank branches across the country following the circulation of social media messages claiming that the Federal Government has launched a ₦70,000 monthly empowerment initiative tagged the “Tinubu Empowerment Fund” under a scheme known as NEYDEEP.
The viral messages, widely shared on WhatsApp and TikTok, instructed citizens to visit Keystone Bank, Fidelity Bank, and Stanbic IBTC Bank with their Bank Verification Number (BVN), National Identification Number (NIN), and passport photographs to register for the supposed programme.
A message obtained by Legal Observer News reads in part:
“Go to the bank and tell them you want to register for NEYDEEP (Tinubu Empowerment Fund). Go with your NIN, BVN, and passport. The payment is ₦70,000 monthly. If they ask for occupation, put farming.”
At several bank branches visited, large crowds were seen queueing to complete registration forms, while some bank officials appeared overwhelmed by the influx.
In Ilorin, Kwara State, some registrants told reporters they were asked to pay ₦2,000 for “account activation and debit card processing.”
“They said the ₦2,000 was for account activation. We were told to expect ₦70,000 by month-end,” one registrant explained.
In Lagos, residents expressed similar experiences, stating that they joined the registration believing the scheme was endorsed by President Bola Tinubu’s administration.
However, there has been no official confirmation from any government agency or financial regulator linking the Federal Government or the banks to the alleged empowerment scheme.
Efforts to obtain clarification from the Economic and Financial Crimes Commission (EFCC) were unsuccessful at the time of filing this report, as calls and messages to the commission’s spokesperson, Dele Oyewale, went unanswered.
Analysts warn that the so-called “Tinubu Empowerment Fund” may be another in a series of social media scams exploiting citizens’ economic hardship and desperation for government palliatives.
Citizens are advised to verify all financial empowerment claims through official government or bank communication channels before submitting personal details or making any payment.
