Jos customers seek disputed funds; Jaiz Bank representative contests liability
Protesters allege losses exceeding ₦100m, while the bank’s representative says the transactions involved private investment arrangements.
Customers of Jaiz Bank in Jos, Plateau State, have called for intervention over disputed funds they say they have been unable to recover. The bank’s legal representative has challenged their claim that the institution bears responsibility.
Premium Times reported on November 3 that customers protested at the bank’s Jos branch on Monday, November 2. They alleged losses exceeding ₦100 million and appealed to the Central Bank of Nigeria and other authorities for assistance. IDNN has not independently established the aggregate amount.
Customers say they followed banking procedures
The Guardian reported that protesters said their transactions took place inside the banking hall and involved documents supplied through the bank.
They alleged that funds they believed were held or invested for them were no longer available when they sought access. Some also said earlier complaints and assurances had not produced refunds.
Bank representative disputes responsibility
Responding on management’s behalf, legal representative Munir Barau Abdullahi said the customers had dealt with an employee rather than directly with the bank, according to The Guardian.
He said money had not been deposited into the customers’ respective accounts as they believed, and noted that the matter was before a court.
The bank’s representative described the dealings as private investment arrangements involving an employee and her husband, rather than investments undertaken by the bank, Premium Times reported.
Customers interviewed by the newspaper disputed that account, maintaining that they had dealt through the institution and followed banking procedures.
Documents and proceedings require further scrutiny
Premium Times reported reviewing an investment agreement, an account statement and documents showing civil proceedings involving the bank.
IDNN has not independently inspected those records or established whether the disputed transfers were authorised. The documents described in the report do not establish a final determination of the bank’s liability.
As of IDNN’s November 6 source check, no final judgment or regulatory finding resolving the dispute had been located. The customers’ claimed aggregate loss also remained independently unverified.
