Bank customers worry over ‘illegal’ deductions from accounts

Published

1 year ago

November 7, 2022

Many customers of commercial banks in the country have condemned the increasing spate of ‘illegal’ withdrawals from their accounts.

Some of the customers who were victims of the act said this in an interview with the News Agency of Nigeria in Abuja on Monday.

They described the act as fraudulent which the authorities must urgently address.

They also claimed most of the illegal deductions were being done in connivance with bank employees.

A customer with one of the new generation banks, Miss Helen Isiguzu, said that fraud was being perpetrated in almost all the banks unlike before, adding that it was more rampant in some banks.

She said, “What is happening in banks these days is discouraging me from depositing my money with them.

“No wonder the Central Bank of Nigeria said there is so much money in the hands of Nigerians outside the banks.

“People are beginning to lose hope in commercial banks.

“Instead of my money to develop wings and disappear from my account just in a day, I rather invest it in real estate business and it will yield greater profits.’’

Mrs Anthonia Ibedalu, another customer with one of the new generation banks, said that some banks in the country were operating below international standard.

She called on relevant authorities, including the Federal Competition and Consumer Protection Commission to step up actions and save customers from fraudulent activities in some banks.

She said, ”

I travelled to South Africa for a period of three years but I had a dollar account in one of the banks.

“When I got back to Nigeria for holidays, I decided to take the money but to my surprise, I was told the money was no longer there.

“I enquired to know what happened but was told my account was hacked into. I wondered how an account that no other person had the details could be hacked into.

“When I contacted higher authorities in the bank, they investigated and my money was refunded.

“They did not tell me the result of their investigation but from their responses, it was an insider thing. I now ask, what if I didn’t know who to contact,’’ she said.

A former banker, Mr Louis Otagoro, appealed to the Chartered Institute of Bankers to ensure that only trained professionals practise in the industry.

“The CIBN should step up actions to ensure that banking profession does not become an all comers affair,’’ he said.

President of the CIBN, Ken Opara, said that the council was resolute and committed to the observance and maintenance of ethics and professionalism among practitioners in the banking industry.

Executive Vice Chairman of the FCCPC, Mr Babatunde Irukera, also said they were engaging with banks to address consumer-related issues.

The Economic and Financial Crimes Commission had said that most banking fraud handled by the Commission showed that bank employees aided the acts.

Head of Cybercrime Section of the commission, Abbah Sambo, said that the acts were mostly perpetrated by insider Information, Communication Technology employees of banks.

He also expressed regret at the increasing rate of cybercrime in spite of best efforts by the Commission to tackle it.

Sambo observed that in years past, young people involved in cybercrime were not ICT savvy, but today, it is ICT graduates that were champions in perpetrating the crime.

-NAN

Related Topics:Banks. Illegal deductions Featured

Up Next

FIRS collects N7.5tn taxes, exceeds education tax target by N4bn

Don't Miss

Power generation peaks at 4,735.1MW

Appeal court takes over NURTW case as NIC withdraws

Published

1 day ago

May 1, 2024

Trends Admin

Appeal court takes over NURTW case as NIC withdraws

The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.

The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.

Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.

The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.

The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.

Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.

With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.

Business

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Published

1 day ago

May 1, 2024

Trends Admin

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Despite the intervention of the CCPT, Multichoice Limited has proceeded to increase packages price for DSTV and GOTV as announce on Wednesday last week.

Newstrends had earlier reported that the corporation announced that the new rates will go into effect on Wednesday, May 1, 2024, in a statement.

Meanwhile, on Monday, MultiChoice Nigeria Limited was ordered by the Competition and Consumer Protection Tribunal (CCPT) in Abuja to suspend the planned prices and tariffs hike on packages and services.

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Business

As controversy over Maersk-FG port investment rages, Onanuga says no $600m deal signed

Published

1 day ago

May 1, 2024

Trends Admin

As controversy over Maersk-FG port investment rages, Onanuga says no $600m deal signed

The Nigerian government and a shipping giant, Maersk, have not signed any investment agreement, Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, has said.
Onanuga was reacting to the controversy surrounding the reported sealing of a $600 million deal for the development of the nation’s seaports.
He said there was only talk “of possible investment in Nigeria” by Maersk.
Interestingly Onanuga had hinted about the deal in a tweet said to have been pulled down after the social media backlash.
After President Tinubu’s discussion with Maersk’s Chairman Robert Uggla on April 28, on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia, the presidency had released a statement announcing that the shipping company had pledged to inject $600 million into the Nigerian seaport industry.
“Danish shipping company, A.P Moller-Maersk plans $600m investment in Nigeria. Danish shipping and logistics company A.P Moller-Maersk has disclosed a planned investment of $600 million in Nigeria to accommodate more container shipping services in Nigerian ports,” Onanuga wrote on X.
In a statement, Tinubu’s spokesperson, Ajuri Ngelale, also said “President Tinubu meets Chairman of Danish shipping giant Maersk, secures $600 million investment in Nigerian seaport infrastructure.” He quoted Uggla as saying, “We believe in Nigeria, and we will invest $600m in existing facilities and make the ports accommodating for bigger ships.”
In response to this. Maersk officials have denied any such agreement and stress no deals have been signed.
Onanuga in a new report by TheCable, an online news platform admitted no agreement on investment had been reached by the two parties.
“I think the statement issued by Maersk did not talk about a deal. There was no deal according to that statement that I read.
“However, there was talk of investment,” the special adviser said.
“No document or agreement was signed, so there was no deal. But there was talk of a possible investment in the country.
“So, go and read the statement again. They never said any deal was signed between the Nigerian government and the Dutch company. There was nothing like that.”
Onanuga however said the shipping company did not expressly deny that there was an investment talk.
He said people are “unnecessarily giddy over nothing.