Team NSA Warns Against Fraudulent Startup Investment Fund

The Nigeria Startup Act team has issued notes of warning against a fraudulent website ‘’National Startup Investment Fund — (NASIF)’’ being circulated online.

The team, released a statement to the public stating that the proposed National Startup Investment Fund is a scam website created for the purposes of collecting the sensitive information of applicants including the BVN / NIN for criminal purposes.

It also explained that neither the Federal Government, Nigeria Startup Act, Bank of Industry or the African Development Bank is in any way affiliated with this fraudulent initiative.

The Act’s provision of a Startup Seed Investment Fund is currently in its pre-implementation stages and all necessary steps needed for startups to get access to the fund would be communicated directly via the online platforms.

By No Means Real
“Although some reputable media platforms have circulated this fraudulent initiative, it is by no means real. We urge our friends in the media to carry out due diligence and to reach out to the NSA secretariat to confirm information received about the implementation of the act,” the statement read

The team further stated that there have been increasing attempts by fraudsters to recreate Federal Government programmes in order to “phish” the sensitive data of victims, and use them for organised financial scams including defrauding them of their money.

The NSA team urged citizens and members of the public to avoid inputting personal or financial details on the fraudulent website and also to discard any information sent in by its evil perpetrators.

PR/Lateefah Ibrahim