{"id":101706,"date":"2023-11-22T15:27:23","date_gmt":"2023-11-22T14:27:23","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts"},"modified":"2023-11-22T19:22:00","modified_gmt":"2023-11-22T18:22:00","slug":"reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts","title":{"rendered":"Reps probe Zenith Bank over alleged freezing of customers\u2019 FX naira accounts"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The House of Representatives has launched a probe into the alleged illegal freezing of FX and Naira accounts of Zenith Bank customers over transfer of USD.<\/p>\n

The resolution of the House followed the adoption of a motion moved at the plenary on Wednesday by Hon. Femi Babasile.<\/p>\n

Presenting the motion, the lawmaker explained that there is an existing platform on the banking App of Zenith Bank which permits the transfer and buying of FX.<\/p>\n

Babasile stressed that this App has been ongoing for a period of time and there was no cap to the limit of money that could be bought or transferred either by an individual or business.<\/p>\n

The lawmaker noted that three weeks ago customers\u2019 accounts were frozen and a message sent out by Zenith Bank to their customers asking them to refund the said monies they transferred and bought for personal or business purposes using the App.<\/p>\n

He said: \u201cWorried that a young man was invited and detained by the Special Fraud Unit, he was made to pay $100,000 back to the bank and also made to give an undertaking under duress stating that he made an illegal transaction.<\/p>\n

\u201cAlso worried that the targets as of today are the small names and brands whilst the big players in the industry are quietly being approached for the sake of protecting their brands.\u201d<\/p>\n

Babasile expressed concern that there are irregularities which need prompt resolution, saying the bank also made profit from the transactions and should be investigated and made to refund all they made as profit.<\/p>\n

The House, therefore mandated its committee on Digital Banking to look into this issue and come to an amicable resolution and report back to the house in two weeks.<\/p>\n

It also mandated the committee to ensure that a final resolution where all parties affected are duly compensated for the loss they must have incurred during the period of the account suspension.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The House of Representatives has launched a probe into the alleged illegal freezing of FX and Naira accounts of Zenith Bank customers over transfer of USD. The resolution of the House followed the adoption of a motion moved at the plenary on Wednesday by Hon. Femi Babasile. Presenting the motion, the lawmaker […]<\/p>\n","protected":false},"author":84,"featured_media":101704,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,254,1589],"class_list":["post-101706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-reps"],"yoast_head":"\nReps probe Zenith Bank over alleged freezing of customers\u2019 FX naira accounts - Nigeria<\/title>\n<meta name=\"description\" content=\"The House of Representatives has launched a probe into the alleged illegal freezing of FX and Naira accounts of Zenith B ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reps probe Zenith Bank over alleged freezing of customers\u2019 FX naira accounts\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives has launched a probe into the alleged illegal freezing of FX and Naira accounts of Zenith B ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-22T14:27:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-22T18:22:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700660793.396342.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Reps probe Zenith Bank over alleged freezing of customers\u2019 FX naira accounts\",\"datePublished\":\"2023-11-22T14:27:23+00:00\",\"dateModified\":\"2023-11-22T18:22:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts\"},\"wordCount\":341,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700660793.396342.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"Reps\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-probe-zenith-bank-over-alleged-freezing-of-customers-fx-naira-accounts\",\"name\":\"Reps probe Zenith Bank over alleged freezing of customers\u2019 FX naira accounts - 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