Access Bank denounces N500m missing funds allegation

businessamlive
By businessamlive 3 Min Read
  • Labels accusations “untrue and baseless”

Onome Amuge

Access Bank strengthens commitment to upskill  African youths

Access Bank PLC, has refuted the claims made by Nigerian social media activist VeryDarkMan, regarding an inheritance dispute involving N500 million allegedly belonging to a deceased customer. Access Bank firmly denied the accusations, stating that they are “untrue and baseless.”

The recent allegations against Access Bank PLC have captured the attention of the Nigerian public, with widespread scrutiny and debate over claims that the bank failed to release over N500 million belonging to the late Edongesi Edith Hour, who died intestate (without a will) in 2019.

Social media activist VeryDarkMan, in a widely circulated video, said the deceased’s  family has been unable to retrieve funds they believe are held in Access Bank PLC, despite securing a Letter of Administration and recovering funds from other banks.

However, Access Bank, in a statement made available to Business a.m, explained, “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500 million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.”

Access Bank reaffirmed its commitment to uphold the highest ethical standards and protect its customers’ interests, while honouring privacy laws, adding that it will continue to engage with customers to address any concerns they may have.

The bank management, therefore, advised the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public, noting that it remains committed to serving its customers.

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Onome Amuge is a Nigerian journalist and content writer known for his analytical and engaging reporting on business, finance, agriculture, commodities, and technology. He is currently a journalist at Business a.m., a Nigerian business-focused newspaper, where he has authored over 360 articles covering a wide range of topics including economic trends, market analysis, and policy developments.