11.03.2023 Featured For 4 Years, FCMB Freezes Customer’s Account Over Unprovable N200,000 Fraud

Published 11th Mar, 2023

By Tarinipre Francis

First City Monument Bank (FCMB) has, since 2019, frozen the account of Denayin Michael Oluwaseun, its customer, for an alleged fraudulent transaction of N200,000.

Oluwaseun was accused of fraudulently getting N200,000 from First Bank customer Edet Franka’s account on January 22, 2019.

His bank statement, however, shows no record of such a transaction on the said date.

Oluwaseun's statement of account from FCMB
Oluwaseun’s statement of account
Oluwaseun's statement of account from FCMB
Oluwaseun’s statement of account

READ ALSO: Over Unproven N200,000 Fraud, FCMB Restricts Customer’s Account for 4 Years

In an earlier report, FIJ documented how FCMB restricted Oluwaseun’s account on the request of Franka.

With lack of proof, FCMB accepted Franka’s request and has kept Oluwaseun’s account on debit freeze for four years.

All efforts to get the bank to adequately investigate the matter and remove the restriction on his account has fallen on deaf ears, Oluwaseun told FIJ.

Conversation between Oluwaseun and FCMB customer support on Twitter

Instead, the bank has kept on sending him the same old response:

“Please note that (your) account is on debit freeze and a complaint has been logged to the unit in charge for assistance.”

READ ALSO: 5 Months After N450,000 Vanished From Customer’s Account, FCMB Has No Explanation

In an email correspondence with FIJ, FCMB stated that the inquiry on Oluwaseun’s case was receiving attention and that updates would be provided soon.

For more details, FIJ called FCMB’s customer support line, and a customer support staffer said she would connect FIJ with the customer care manager, but that did not happen. A recorded message left for the manager was yet to be responded to at press time.

Published 11th Mar, 2023

By Tarinipre Francis


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