Rita Odafe
The CEO of Ekini White Tulip Consulting Limited, Tunde Oyeniran, is disappointed as the company still cannot access its account with First Bank even after the restriction on the account was lifted.
The account had been restricted since 2021 without any prior explanation.
When asked, the bank mentioned the absence of a special control unit against money laundering (SCUML) certificate as the reason for the restriction, a requirement Oyeniran was unaware of when opening the account in August 2020.
Efforts to lift the restriction were hindered when a client mistakenly paid N160,000 into the account for a service, which the company cannot withdraw.
Despite the restriction, the bank continued sending monthly account statements without indicating the account was under restriction.
In July 2024, after obtaining the SCUML clearance certificate, Oyeniran expected the account to be fully operational, but encountered delays and obstacles in the reactivation process.
Having completed the necessary forms and requirements for reactivation, the account was declared active before the stipulated 14-day period provided by the bank.
The company faced further delays due to the bank’s claim of undergoing software migration and discrepancies in the company’s registration details with the Corporate Affairs Commission (CAC).
Emails sent to the bank’s complaint management unit bounced back, highlighting an invalid email address for communication.
