Business

Businessman Drags Moniepoint MFB To CBN, EFCC Over N700m Account Restriction

AIS_Savita urged the Central Bank of Nigeria and the Economic and Financial Crimes Commission to intervene promptly.

By Nydra Ayibapreye

A businessman, identified as AIS_Savita in a recent post, filed a complaint against Moniepoint Microfinance Bank, alleging that his account, which held a credit balance of N700 million, was unjustly restricted.

AIS_Savita urged the Central Bank of Nigeria and the Economic and Financial Crimes Commission to intervene promptly.

In a video shared, he disclosed that he had conducted transactions totaling nearly N700 million with Moniepoint MFB over four months before his account was inexplicably restricted.

Despite multiple attempts to clarify the reason for the restriction, AIS_Savita was unsuccessful. Presenting evidence from his transaction history, he emphasized the absence of any irregular transactions as claimed by Moniepoint MFB. Expressing concerns about the potential adverse effects on his business operations, AIS_Savita demanded transparency and accountability from the bank.

He called for a thorough investigation by the CBN and EFCC, suggesting that the actions of Moniepoint MFB could amount to financial fraud. He also advised other account holders to stay vigilant and advocated for increased scrutiny of the bank’s practices to prevent similar incidents.

“I have transacted almost N700m in less than four months with Moniepoint Nigeria, but my account was suddenly restricted without any reason given.

“I believe this is a case of massive financial fraud and I demand that the Central Bank of Nigeria and the Economic and Financial Crimes Commission investigate. MoneyPoint Nigeria has been rolling down business accounts, restricting them without any justifiable reason, and I am not alone in this experience”, he tweeted.

AIS_Savita in the video with the link, (1) AIS__Savita (@smartakukoma) / X (twitter.com), showed the transaction history and other financial details between him and Moniepoint Nigeria while claiming that his business account was just restricted to fail his customers. “So, why will you wake up early morning and decide to restrict an account, a business account?”

Speaking in the video, he said, “Dear CBN, dear EFCC, it’s time you look at Moniepoint and what they have been doing with businesses. They have been running down businesses and restricting business accounts.

“I woke up on Sunday, suddenly around 1:57 a.m. on the 14th of April when Moniepoint restricted my account and sent me a message that my account was restricted.

“It was on a Sunday morning and I waited till Monday. I called them. Why did you restrict my account? They couldn’t give me any reason for restricting my account. I reached out to them again many times they could not give me a reason. They only told me that I should wait until the investigation was going on. I waited for so long. I have to write them on X right here.

“Here is the Moniepoint chat trend. They said that “an erroneous transaction of 965,000 445 occurred in my account on the 9th of April”. I said all right. Is there any information you need me to provide for you to unrestrict my account so that I can continue my business? They did not give me any feedback. They only said that I should wait. I said Okay. I have to check my account statements.”

…………

Note : To submit Press Releases, Statements, and Advert Inquiries for publication on Waffi blog (website) or Television 📺, please use the following contact details: You can send an email to info@waffitv.com or reach us via Whatsapp at 07068286500

Related posts

CBN Raises Interest Rate To 27.25%

admin

Naira Depreciates To N1,610/$ In Official Market

admin

Naira Appreciates To N1,680/$ In Parallel Market

admin

Leave a Comment