'It's a Lie': Zenith Bank Disowns Deepfake Video Falsely Showing Chairman Jim Ovia Endorsing Fake N380,000 Investment Scheme

Fraudsters promise N2 million weekly returns through 'Wealth Bridge' on Greece Island Facebook page; bank warns public to steer clear

Zenith Bank Plc has issued an urgent warning to the public, disassociating its Group Chairman, Dr Jim Ovia, from a fraudulent investment scheme circulating on social media through doctored videos and images.

The bank's management disclosed in a disclaimer statement on Tuesday that fraudsters have been using manipulated content to falsely depict Ovia endorsing an entity called "Wealth Bridge" on the "Greece Island" Facebook handle .

How the Scam Works

According to the bank, the fraudulent video makes an irresistible but entirely fake promise: prospective investors are asked to contribute N380,000 and are guaranteed up to N2 million in weekly returns . The video redirects unsuspecting victims to an alleged Arise News webpage containing scheme details and a registration portal for sign-ups .

The fraudsters have also allegedly claimed the scheme has the endorsement of the Central Bank of Nigeria (CBN)—a claim the bank categorically denies .

Official Denial

In its statement, the bank was emphatic: all videos and promotional materials referenced are "FAKE" and have no connection whatsoever to Zenith Bank Plc or Dr Jim Ovia, CFR .

"The Group Chairman of Zenith Bank and the Bank have no knowledge of the said investment scheme and have not entered into any partnership with the companies, individuals, or platforms behind these schemes," the statement read .

Warning to the Public

The bank advised the public to disregard these fraudulent communications entirely, warning that anyone who engages with the "Greece Island" handle, "Wealth Bridge," or other named entities such as "delicious sitee," "AfriQuantumX," or "Stock market analyst 1" does so strictly at their own risk.

A Growing Trend

This incident adds to a growing list of deepfake and AI-manipulated videos targeting prominent Nigerians. In February alone, WTO Director-General Ngozi Okonjo-Iweala warned the public about a fake video promoting an investment scheme using her image, and similar warnings have been issued regarding cloned content featuring other public figures .

As artificial intelligence tools become more sophisticated, distinguishing genuine endorsements from sophisticated fakes has become increasingly difficult. Zenith Bank's forceful disclaimer serves as a reminder: if an investment promise sounds too good to be true, it almost certainly is—regardless of who appears to be endorsing it.