Following a complain by a businessman known as AIS_Savita on X platform post on Tuesday, against Moniepoint Microfinance Bank, alleging the restriction of his account holding a credit balance of N700m.
AIS_Savita, called on the Central Bank of Nigeria and the economic and Financial Crimes Commission for immediate intervention.
In a viral video shared on Tuesday, AIS_Savita emphasized that he had conducted transactions totalling nearly N700m with Moniepoint MFB within four months before his account was inexplicably restricted.
He noted that several attempts to ascertain the reason for the restriction were unsuccessful.
Presenting evidence from his transaction history, AIS_Savita highlighted that the absence of any irregular transaction was claimed by Moniepoint MFB.
He expressed concerns that such actions by the bank could adversely affect his business operations and demanded transparency and accountability.
AIS_Savita pleaded with the CBN and EFCC to investigate the matter thoroughly, asserting that Moniepoint MFB’s actions could constitute financial fraud.
He adviced other account holders to remain vigilant and called for greater 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.
Speaking in the video evidence seen and monitored 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.”
