{"id":298263,"date":"2023-11-23T06:29:11","date_gmt":"2023-11-23T05:29:11","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=298263"},"modified":"2023-11-23T06:29:11","modified_gmt":"2023-11-23T05:29:11","slug":"reps-initiate-inquiry-into-zenith-banks-alleged-freezing-of-customers-fx-naira-accounts","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/11\/23\/reps-initiate-inquiry-into-zenith-banks-alleged-freezing-of-customers-fx-naira-accounts\/","title":{"rendered":"Reps Initiate Inquiry into Zenith Bank&#8217;s Alleged Freezing of Customers&#8217; FX Naira Accounts"},"content":{"rendered":"<ul>\n<li><strong>The House of Representatives investigates Zenith Bank over unauthorized freezing of customer accounts related to USD transfers, citing concerns<\/strong><\/li>\n<li><strong>The Digital Banking committee is mandated to resolve the issue, seek compensation, and report back in two weeks<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>The House of Representatives has commenced an investigation into the reported unauthorized freezing of both FX and Naira accounts belonging to customers of <a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/05\/04\/poor-services-zenith-bank-confirms-fire-outbreak-at-lagos-facility\/\">Zenith<\/a> Bank involved in the transfer of USD.<\/p>\n<p>This decision was reached following the adoption of a motion during the plenary on Wednesday, spearheaded by Hon. Femi Bamisile.<\/p>\n<p>Bamisile highlighted an existing platform on Zenith Bank&#8217;s banking app that allows customers to transfer and purchase FX. He emphasized that this functionality has been available for a considerable period, with no specified limit on the amount of money that can be transferred or purchased, whether by individuals or businesses.<\/p>\n<p>However, the lawmaker pointed out that three weeks ago, the bank froze customers&#8217; accounts and subsequently sent messages demanding a refund for the funds transferred or purchased using the app, whether for personal or business purposes.<\/p>\n<p>Expressing concern, Bamisile shared an incident where an individual was invited and detained by the Special Fraud Unit. The individual was coerced into repaying $100,000 to the bank and forced to provide an undertaking under duress, admitting to engaging in an illegal transaction.<\/p>\n<p>The House has directed its Digital Banking committee to investigate the matter, seek an amicable resolution, and report back within two weeks. The committee is also tasked with ensuring fair compensation for all affected parties who may have incurred losses during the period of the account suspension.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House of Representatives investigates Zenith Bank over unauthorized freezing of customer accounts related to USD transfers, citing concerns The Digital Banking committee is mandated to resolve the issue, seek compensation, and report back in two weeks The House of Representatives has commenced an investigation into the reported unauthorized freezing of both FX and Naira [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":295059,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[18127,2229,73219,1311],"class_list":["post-298263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-fx","tag-house-of-reps","tag-naira-account","tag-zenith-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Reps Initiate Inquiry into Zenith Bank&#039;s Alleged Freezing of Customers&#039; 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