Customers Threaten Boycott Of Access Bank For Freezing Accounts Of #EndSARS Protesters As Management Apologizes

Some Customers of Access Bank Plc have threatened to close their accounts in the bank following the freezing of the bank accounts of some #EndSARS Protesters.

The move is coming following online campaign that the bank should not be patronised for taking sides with the government to freeze the bank account of about eight EndSARS protesters.

But reacting to the development, the management of Access Bank said that the decision of the bank to freeze the account was based on the order of the Central Bank of Nigeria.

The bank’s decision to freeze the accounts was done nearly two weeks before CBN obtained a court order to do so.

The move had put the bank in a bad light with hundreds of social media influencers calling on Nigerians to boycott the bank.

Those calling for a boycott of the bank had argued that Access Bank ought to have been more thorough like Stanbic IBTC, whose founder, Atedo Peterside, had openly refused to freeze the account of any person without a valid court order.

But explaining the reason for the decision, Access Bank said on Friday that as a financial institution, it was bound by the regulations of the CBN.

It said it was looking forward to unfreezing the accounts of those involved in the #EndSARS protest.

The bank said, “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.”

Access Bank said it had always been at the forefront of innovative efforts in support of the development of Nigeria.

The Central Bank of Nigeria was last week granted approval by a Federal High Court in Abuja to freeze accounts of persons and a firm connected to #EndSARS protest.

This was contained in a document dated November 5 2020.
 

The Central bank had on October 20, 2020, requested the Abuja Court to freeze the accounts of 20 promoters of the two weeks protest which was hijacked.

Based on the document, the approval was granted Nigeria’s apex bank 16 days later.

The Federal Government had reportedly clamped down on #EndSARS promoters since the protest ended.

Some of the promoters are  Chima David Ibebunjoh, Mary Doose Kpengwa, Bolatito Racheal Oduala, Saadat Temitope Bibi,  Mosopefoluwa Odeseye, Bassey Victor Israel, Wisdom Busaosowo Obi, Nicholas Ikhalea Osazele, Ebere Idibie, Akintomide Lanre Yusuf and Uhuo Ezenwanyi Promise.

Others are Adegoke Pamilerin Yusif. Umoh Grace Ekanem, Babatunde Victor Segun, Mulu Louis Teghenan, Mary Oshifowora, Winifred Akpevweoghene Jacob, Victor Solomon, Idunu A. Williams, and Gatefield Nigeria Limited.

The High Court addressed the order to First Bank Nigeria, Access Bank, Fidelity Bank, Guaranty Trust Bank, United Bank of Africa, and Zenith Bank.

The directive will allow the Deposit Money Banks to freeze all transactions on the 20 accounts on the apex bank’s list.

The accounting freeze is for a period of 180 days pending the outcome of the ongoing investigation and inquiry carried out by the CBN.

ENDS