Barclays Bank To Nigerians, Maintain Minimum Balance Of £100,000 Or Kiss Your Accounts Goodbye

Barclays, a British multinational bank, has directed foreigners, Nigerians inclusive, to maintain a minimum balance of £100, 000 in their accounts with the bank or have their accounts closed.

The directive, according to the bank, takes effect from August 1, 2017 as part of efforts to ensure all its customers meet the international banking service requirement.

“The new minimum level will now be £100,000. Top up your savings and investments to £100,000 or more before 1 August 2017, to continue with the service, or close your account and transfer your monies to another provider without charge.

“We understand that you may be disappointed by this and we will aim to offer you as much assistance as possible during this transition period,” said the bank.

Meanwhile Telegraph reported in June that Barclays has sold its stake in African business worth about £2.2bn with the view to streamline the bank’s focus on Britain and the United States.