On Tuesday, April 23, a businessman with the X (Twitter) handle “AIS_Savita” recently posted a complaint against Moniepoint and Microfinance Bank (MFB) over restricting his account with a credit balance of N700m. To recover the account, he called the Central Bank of Nigeria and EFCC agency for swift intervention.
AIS_Savita shared an agitation video clip highlighting his 700m transactions for the last four months via Moniepoint before his account was restricted. He mentioned that all efforts to find out why his account was restricted were abortive.
The Twitter businessman, with evidence of lawful transactions, is in a dire situation. The account restriction has left his business in ruins, with no financial resources to navigate these turbulent times.
AIS_Savita is not just seeking justice for himself, but also demanding transparency and accountability from the CBN and EFCC. He urges them to investigate and hold the fintech and financial institution accountable to prevent others from falling victim to such actions.
However, he has issued a warning to other users of Moniepoint and MFB account owners to be on the lookout for any form of irregularity on their accounts to avoid becoming prospective fraud victims like him.
In his tweet, AIS_Savita said I believe this is a case of massive financial fraud, and I demand that the Central Bank of Nigeria and the Economic and Financial Crimes Commission investigate. MoneyPoint Nigeria has been rolling down business accounts, restricting them without justifiable reason, and I am not alone in this experience”.
He reported the restriction on Sunday, April 14, 2024, when he woke up to a text notification from Moniepoint around 1:57 a.m. In response, the X user and businessman made several attempts and tweeted to find out why a restriction had been placed on his business account. According to AIS_Savita, Moniepoint responded by saying, “An erroneous transaction of 965,000 445 occurred in my account on April 9.”
However, AIS_Savita, the X user and businessman, has summoned the whole of Nigeria to help him avoid becoming a victim of financial institutional fraud.
