CBN License Revocation: Our Funds Are Trapped, Nigerians Lament
Fred Omotara, Lagos
Some Nigerians have raised the alarm over uncertainty of their funds following the license revocation hammer of the Central Bank of Nigeria (CBN) which fell on some microfinance Banks, primary mortgage Banks and some digital Banks earlier in the week.
Recall that the CBN on Tuesday revoked the operating licenses of 132 microfinance banks and those of four primary mortgage banks and three finance companies.
Speaking with Kadecommunicationng, Mr. Phillip Nwosu, a customer to one of the affected Banks expressed confusion over the State of his money in the finance company.
According to Mr. Nwosu, “I have money in HHL Invest & Trust Limited. It is a fund dedicated for mortgage purposes.
“I read online that the banks license has been revoked. I have been to the bank and they told me to calm down, that they are in discussion with the Apex bank.
“I am confused. For how long will they be in discussion with CBN? What if such discussion fails? What will happen to my money?”
Also speaking, Mrs. Chigozie Nwachukwu, another customer of Merit Microfinance Bank, one of the affected microfinance banks lamented that the bank has refused to communicate with it’s Customers since the news of license revocation came out.
“For 48 hours now, I have not heard from Merritt microfinance bank. I went there at Orlu road but security won’t let people in. People were gathered outside the bank premises here in Amaigbo, Imo State.
“No communication from the bank, yet they won’t allow people in. What’s really happening? Some of us have funds in the bank, we need somebody to talk to us,”
Meanwhile, Eyowo, one of the affected digital bank has assured it’s Customers that their funds are safe.
In a statement shared on Twitter on Wednesday, Eyowo said that, “Regarding the CBN directive, we are actively working with the Central Bank of Nigeria to resolve all pending issues and put our users at ease.
“To our users, rest assured that the CBN directive has no immediate impact on the safety of your money, nor is it connected in any way to the planned service improvements and ongoing onboarding freeze we announced.
“We remain committed to ensuring the security of your money and apologize for any inconveniences that you will experience in this period.”