Zenith Bank Issues Urgent Warning Over Fraudulent AI-Generated Investment Video
Zenith Bank Plc has taken a firm stance against a sophisticated fraudulent scheme circulating online, issuing a strong public warning to Nigerians about a manipulated video that falsely portrays its Group Chairman, Jim Ovia, endorsing an investment opportunity. The bank has completely disowned the clip and clarified that neither Ovia nor the institution has any connection to the platform being advertised.
Bank's Official Statement and Disclaimer
In a public statement posted on its official X (formerly Twitter) account on Tuesday, February 16, 2026, Zenith Bank firmly rejected and denounced the circulating video. The bank described the clip as entirely false and manipulated, emphasizing that it has no connection whatsoever to the Group Chairman, the bank, or any of its affiliate companies.
The bank stated clearly: "For the avoidance of doubt, all the videos and promotional materials referenced above are FAKE and have nothing to do with Zenith Bank or Dr. Jim Ovia, CFR." This strong disclaimer comes as part of the bank's efforts to protect the public from falling victim to increasingly sophisticated financial scams.
Details of the Fraudulent Scheme
The manipulated video, which has been widely shared across social media platforms, reportedly originated from a Facebook account called "Greece Island." It promotes a so-called investment platform branded "Wealth Bridge" that makes extravagant claims about potential earnings.
According to the fraudulent content, participants are promised:
- Weekly returns of up to N2 million
- From an initial investment of N380,000
- Falsely claims Central Bank of Nigeria approval
The clip employs sophisticated deception techniques by redirecting viewers to a fake webpage posing as an Arise News site that includes registration links for the bogus scheme. This approach gives the fraudulent operation an appearance of legitimacy that could easily mislead unsuspecting individuals.
Growing Threat of AI-Generated Financial Scams
Zenith Bank's clarification underscores the escalating problem of deep-fake and AI-generated content being weaponized to deceive the public and make fraudulent schemes appear legitimate. By putting the spotlight on this specific incident, the bank hopes to prevent Nigerians from falling victim to scams that exploit respected public figures for credibility.
This incident is not isolated. Recently, the Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala, also warned the public about a similar fraudulent AI-generated video that wrongly showed her endorsing a comparable investment scheme. These developments highlight a disturbing trend of scammers using advanced technology to target individuals through social engineering tactics.
Bank's Advice to the Public
Zenith Bank has strongly urged members of the public to:
- Completely disregard these fraudulent communications
- Exercise extreme caution with investment solicitations
- Verify all investment opportunities through official and credible channels
- Report suspicious financial offers to appropriate authorities
The bank emphasized that legitimate investment opportunities from Zenith Bank are always communicated through verified official channels and never through unsolicited social media promotions featuring manipulated content of bank executives.
Related Security Concerns in Nigeria
In related developments, the Nigerian Communications Commission (NCC) has also issued cautionary alerts regarding rampant phone scams. The Commission reported receiving complaints from over 20,000 Nigerians who have fallen victim to various telecom fraud schemes, including the "Wangiri" scam where perpetrators make brief calls and disconnect, expecting recipients to initiate return calls to premium-rate numbers.
These multiple warnings from different institutions highlight the growing sophistication of financial fraud in Nigeria and the importance of public vigilance in an increasingly digital financial landscape.
