Chinedu Nwoke, a buyer of United Financial institution for Africa (UBA), has filed a lawsuit towards the financial institution and NISRAL Microfinance Financial institution on the Federal Excessive Courtroom in Yenagoa, alleging unauthorized deductions from his account tied to a N700,000 COVID-19 reduction mortgage he insists he by no means utilized for or acquired.
In his authorized petition, Nwoke claims the disputed mortgage—processed utilizing his Financial institution Verification Quantity (BVN)—resulted in his accounts and BVN being blacklisted throughout Nigeria’s banking system, barring him from accessing monetary companies. He denies any involvement within the transaction and accuses the establishments of fraudulent exercise.
Throughout the case’s preliminary listening to on Friday, Nwoke’s authorized consultant, Mr. Chinedu Iheanacho, requested an adjournment to arrange for substantive proceedings. Justice Ayo Emmanuel, presiding over the matter, adjourned the case to March 31 for additional listening to.
The defendants, UBA and NISRAL Microfinance Financial institution, had been represented in court docket by Mr. Treasured John, standing in for lead protection counsel Mr. Evaristus Ozioko.
Nwoke seeks redress for the monetary and reputational injury brought on by the alleged unauthorized withdrawal and subsequent banking restrictions. The case highlights rising considerations over accountability in mortgage disbursements and BVN-linked transactions inside Nigeria’s monetary sector.
(NAN)
