BC - 258
BANKING ISSUANCE
Comptroller of the Currency
Administrator of National Banks
Type:  Banking Circular
Subject:  External Fraud

TO:  Chief Executive Officers of all National Banks; All State Banking
     Authorities; Chairman, Board of Governors of the Federal Reserve
     System; Chairman, Federal Deposit Insurance Corporation; Conference
     of State Bank Supervisors; Deputy Comptrollers Districts); District
     Administrators; District Counsel and Examining Personnel.

The Office of the Comptroller of the Currency is receiving numerous
inquiries regarding apparent phony financial transactions originated by
persons having Nigerian names and addresses. The volume of such purported
financial transactions indicating fraud caused the Central Bank of Nigeria
to issue a "Press Statement"; copy attached. Please be guided accordingly.

Any information which you may have concerning this matter should be
brought to the attention of:

Office of the Comptroller
of the Currency
Enforcement & Compliance Division
Washington, D.C. 20219

Robert B. Serino
Deputy Chief Counsel

Date: February 27, 1992