Diamond Bank Dupes Customer Of N150m

Normally, a bank is meant to be the safest place for people to keep their hard-earned money, but when such institution is corrupt and fraudulent, it calls for concerns and it also means all is not well with the sweats of customers of such bank.

Information getting to us indicates that one of the financial institutions in Nigeria, Diamond Bank Plc, is in another mess. Recall that the bank has not been having it good lately due to alleged frauds cases going on in the financial institution, whose reputation is believed to be weaning very fast. Little wonder why some Nigerians have started leaving Diamond Bank for other banks which offer better and quality services and where their money would be in safe hands.

The latest gist is that Diamond Bank allegedly deducted the sum of N150 million from a customer’s account illegally. This has now forced the victim, West and Gate Limited, to instruct its law firm, Citi Layers Solicitors, to write the bank to refund the said amount.

In a letter written to Diamond Bank Plc by the law outfit, the bank was given seven days to effect the remission or be petitioned to the appropriate authorities and a legal action instituted against Diamond Bank.

The trouble between Diamond Bank Plc and West and Gate started when the bank lost an unsecured loan of N6 billion to Allan Dick West Africa (ADWA) Limited, a telecommunications services firm promoted by Allan Dick Company (ADC), its parent company in United Kingdom in 2007.

Then, having obtained the loan, ADWA commenced liquidation without repaying it. However, rather than going after their lost money, Diamond Bank Plc took a lion share from N850 million paid to the local contractors of ADWA.

As at press time, Aproko247 could not reach a representative of the bank for comments on this story.

May 02, 2014