Reacting through his Twitter handle, @BankyW, he said it is unfortunate people still fall victims of the impostors despite alerting people to the devices of the scammers.
"We are doing the best we can but there are now so many cases that we can't keep up with everyone. So please be smart. I have tweeted, done press releases, had some ppl arrested… but the problem never goes away. We just caught one that said a girl should pay N50k for a form and sleep with 1 guy and she would get a N15 million samsung deal. RUBBISH," the Mr. Capable crooner wrote on his timeline.
The Chief Executive Officer of Empire Mates Entertainment (E.M.E.) record label advised his fans not to be fooled.
"He that has ears, let him hear. Don't be fooled by these fraudsters. Don't pay money to anyone promising u a deal with EME or anyone else. Please note that for any EME Business, if it doesn't come from bookings@empirematesentertainment.com it is fake," Banky W counseled.
A fan with the name Boluwatife, @olonsho455, said he paid N170,000, to Banky W's manager last week Thursday, but Banky W tweeted back that,"U just paid a 419 guy."
The singer who has an educational foundation,'I AM CAPABLE' scholarship fund, prays that God rewards the people impersonating him and stealing money from upcoming artistes.
"May God reward all these 419 boys that keep impersonating me and my staff, stealing money from upcoming artists," he said.
Banky cautioned that if a label wants to sign a new act, the label will pay to take care of the artiste, so upcoming artists should wise up.
"This goes for models too…anyone pretending to be an agent that tells you to pay money to get a modeling deal is lying."