Bank in jitters as ENDSARS protesters threaten over frozen accouts

November 13, 2020
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As ENDSARS protesters mobilize to boycott Access Bank Plc for freezing accounts of eight protesters as directed bythe CBN, the commercial bank is making efforts to appeal to the youth.

“We want to express our sympathy for the inconvenience that eight of our customers are going through due to the restrictions on their accounts as mandated by a federal court order. We are eager for this to be resolved as soon as possible

“It is common knowledge that we and the entire banking industry are regulated entities and therefore operate under the authority of our regulators and law enforcement agencies. As such we are compelled to comply with regulatory directives.

“While acknowledging the concern of all well-meaning parties, we urge that enquiries and views be channeled to the relevant regulatory and judicial agencies where the matter is receiving attention.

“It is therefore surprising that some individuals still choose to target Access Bank in a negative manner despite not being the source of the action.”

The protesters have been particularly worried that Access Bank refused to go about the CBN order the way Stanbic IBTC did.

Stanbic Chairman Peterside Atedo insisted its bank would not obey the apex bank’s order except there was a court order.

The CBN, in obtaining the court order after freezing those accounts, told the court it suspected terrorism financing.

Leaders of the protesting movement received donations locally and internationally during the two-weeks-long anti-police brutality protest in October across the nation.

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