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Business News of Wednesday, 30 August 2023


'We regret' - First Bank speaks as customer’s N68m savings vanished from account, remaining N3k

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First Bank of Nigeria has disclosed that it has begun investigating how N68 million belonging to one of its customers, Glory Omokaro, was withdrawn from her account. had earlier provided details of how Omokaro, who lived in Italy, opened the bank account when she first visited Nigeria in 2013 and started saving money after that.

Omokaro said she saved money in the account until it reached N68 million and hoped to use it when she finally moved back to Nigeria.

She added that upon her return to Nigeria in May 2023, she only found N3,000 in the bank account.

First Bank reacts First Bank, in a statement released on Monday, August 28, 2023, confirmed the incident and called for patience.

The message reads: “We confirm the report of fraudulent activity on the account of one of our customers.

"This incident has been undergoing a very robust investigation since our receipt of the customer’s complaint with the goal of holistically unearthing what transpired and addressing the challenge, including satisfying the customer. Unfortunately, this has taken longer than anticipated.

“While the investigation is ongoing, we have repaired the customer’s account given the findings so far and our view that this is the best action in consideration for our customer.

"We regret any inconveniences this may have caused the customer and wish to emphasize that this incident is in no way reflective of the principles and ethics of our time-tested operations.”