Picture Ebiere, who runs a fashion page from her small shop in Port Harcourt. It’s a busy Saturday. A new customer orders three dresses worth ₦85,000, sends a screenshot of a transfer and a bank “alert” text, and says her dispatch rider is already outside. Ebiere hands over the package. That evening she checks her banking app. No money. The alert was fake. Business scams in Nigeria like this hit small business owners every day, but most can be stopped with a few simple habits. This guide shows you how.
Business scams in Nigeria are tricks used to steal goods, money or data from small businesses, such as fake bank alerts, customers who pretend to have paid, fake suppliers and people who copy your business page to deceive your customers. The best protection is simple: confirm every payment in your own banking app before releasing goods, secure your accounts and check suppliers before you pay.
Key takeaways
- A text message or screenshot is not payment. Only money you can see in your banking app counts.
- Turn on two-step verification on WhatsApp and Instagram to protect your business pages.
- Check new suppliers carefully and avoid paying 100% upfront to strangers.
- If you are scammed, act fast: contact your bank, keep evidence and report it.
The most common scams on Nigerian small businesses
| Scam | How it works | Warning sign |
|---|---|---|
| Fake bank alert | A “customer” sends a fake SMS or screenshot showing a transfer | Pressure to release goods quickly; no money in your app |
| “Pending” payment | The buyer says the transfer is “processing” or “network delayed” | They still want the goods now |
| Page impersonation | Scammers copy your logo and photos to create a fake page and collect money from your customers | Customers ask about orders you never received |
| Fake supplier | A “supplier” with great prices takes full payment and disappears | Prices far below the market; no address or history |
| Account takeover | Someone tricks you into sharing a verification code and takes over your WhatsApp or Instagram | Messages asking you to “send back the code we sent by mistake” |
| Overpayment refund | A buyer “accidentally” pays too much and asks for a refund of the difference | The original payment never clears or is reversed |
Scams are widespread across the region. In a 2025 survey of 4,000 adults across Africa, the Global Anti-Scam Alliance found that 68% said they had experienced a scam in the past year, and named Nigeria among the countries where scams were most common.
How to confirm a payment before you release goods
- Open your banking app yourself. Don’t rely on SMS alerts, email alerts or screenshots. Check your actual account balance and transaction history.
- Look for the exact amount and sender name. Make sure the credit matches the order.
- Ignore “pending” stories. If the money isn’t in your account, the order isn’t paid. A polite line works: “We release orders once payment reflects in our account.”
- Don’t let pressure rush you. A dispatch rider waiting outside is not your problem. Real customers can wait five minutes.
- Train your staff. Everyone who hands over goods must follow the same rule: no credit, no release.
Nigerian newspapers, including ThisDay, have reported on fake alert tricks, and the advice is consistent: always confirm the credit directly with your bank.
How to protect your business page from impersonation
- Turn on two-step verification on WhatsApp. It adds a password to your account, so a stolen code alone can’t take it over. See WhatsApp’s guide to managing two-step verification.
- Turn on two-factor authentication on Instagram and Facebook. See Instagram’s guide to two-factor authentication.
- Never share verification codes. No real customer, supplier or “Meta support” agent needs your code.
- Tell customers how you take payment. Pin a post or add to your bio: “We only use this account name for payments” and “We will never ask you to pay into a personal account in another name.”
- Report fake pages quickly. Instagram has a form to report an account for impersonation. Ask loyal customers to report it too.
How to vet suppliers
- Ask for their business name and check it on the Corporate Affairs Commission website.
- Look for a physical address, real reviews and a history online.
- Start with a small test order before placing a big one.
- Split payment: part upfront, the rest on delivery, where possible.
- Be very careful with prices that are far cheaper than everyone else’s.
A registered business also looks more trustworthy to your own customers. See our guide on how to register a business in Nigeria with the CAC.
A 5-minute daily anti-fraud routine
- Check your banking app and match every credit to an order.
- Scan your WhatsApp and Instagram for strange login alerts or messages.
- Search your business name on Instagram to spot copycat pages.
- Remind staff: no credit, no release.
- Write down any suspicious contacts so you can warn others.
What to do if you’ve been scammed
- Contact your bank immediately if you sent money or shared any banking details.
- Keep evidence: screenshots, phone numbers, account numbers and delivery details.
- Report it to the police and to the EFCC.
- Warn your customers if a fake page is using your name.
- Review your process so the same trick can’t work twice.
Try this this week
Turn on two-step verification on your business WhatsApp and Instagram today. Then write “No credit in our account, no release of goods” on a card and stick it where you or your staff hand over orders.
Frequently asked questions
How do I confirm a transfer is real?
Open your own banking app and check that the exact amount has arrived in your account balance and transaction history. Don’t rely on SMS alerts, emails or screenshots from the customer, because these can be faked. If the money isn’t there, don’t release the goods.
What should I do if someone is impersonating my business page?
Report the fake account to the platform using its impersonation form, and ask loyal customers to report it too. Post a warning on your real page and remind customers which account name you use for payments. Keep screenshots in case you need to report to the police.
How do I report a business scam in Nigeria?
Contact your bank first if money or banking details are involved. Then report to the nearest police station and to the EFCC through its official website. Keep all evidence, such as screenshots, phone numbers and account details, to support your report.
Final thoughts
Scammers count on you being busy, trusting and in a hurry. You don’t need to become suspicious of every customer. You just need a few simple rules that you and your staff follow every time. Confirm payments in your app, lock down your accounts and check suppliers. Your hard-earned business deserves that protection.
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Related reading
- How to start a side hustle
- How to avoid online scams in Nigeria
- How to register a business in Nigeria with the CAC
Sources
- ThisDay. How not to fall prey to fake bank alerts (28 June 2025).
- Global Anti-Scam Alliance. State of Scams in Africa 2025 (published February 2026).
- WhatsApp Help Center. How to manage two-step verification settings.
- Instagram Help Center. Report an account for impersonation.
- Economic and Financial Crimes Commission. Official website.
Written and fact-checked by the Mindset.ng Editorial Team in line with our Editorial Policy. This article is for educational purposes only and is not legal or financial advice. Read our Disclaimer. Last updated: 24 September 2026.
