He contacted me tonight asking how I was, etc. I said that I figured he was making a new page, etc.
Then he tells me he wants to share this scheme where I can get government grants up to $150k

I play along while copying everything across to my real mate's chat, although he won't be on for a while yet.
I mention to this guy that I'm in Australia so I doubt I'm eligible, but he ignores that. Tells me to contact somebody else about getting into the scheme and tell them he sent me there. Minutes later he asks me if I've done that yet. I said it took me a few minutes as I had to report him as a scammer first

He asks me what I mean by that, so I explain that "he has stolen somebody else's identity and is contacting everybody on that person's Friends list to try to suck them into a scam. It took me a few minutes to screenshot everything to forward to the authorities before I could contact your mate". His page was suddenly wiped from FB, including his side of our text chat, luckily I screenshot everything.