Kuda Microfinance Bank had its tweet trending after an incident occurred in its Bank premises yesterday, 19 April 2022.
The alleged Microfinance Bank assaulted one of its customers at bank premises as the security agency (The Police) beat up the customer and pressed tear gas on his face.
This is coming after the said customer referred to as “Abdulqudus” transferred a sum of N577, 491 from his Moniepoint POS to his Kuda account on 13 April 2022. Kuda went ahead to freeze the account according to the CBN regulation and also sent a mail to him to state the purpose for which such whooping sum was being deposited into his account.
See what Kuda’s mail contained!
“Hi Abdulqudus, We tried reaching you on your mobile line but efforts have been futile, please be informed that we are conducting a review with regards to the recent transactions made on your account to enable us better understand and profile your account appropriately.”
The Bank added, “Please let us know the source and purpose of the inflow.”
Abdulqudus sent some documents to authenticate that the transaction he made was a legal transaction on the receipt of the email from Kuda Fraud team.
Nonetheless, the account remained frozen and he could not perform any transaction using the bank. This informed his decision to go to the Bank premises to investigate why the account was still the same having taken the necessary procedures.
This action did not meet the bank well as the Bank sent their mopol to harass and assault its customer over an alleged misconduct of approach to the Bank.
This issue has generated controversial discussions on the microblogging app- Twitter, after videos of the incidents were posted.
Some people expressed their displeasure as they tweeted that; “For Kuda Bank to send police to rough handle one of their customer, it tells a lot about the bank, it’s not good at all”. Some others tweeted that; “Na to go delete the Kuda app oo” and “If Kuda bank treats their customers same way they treat their adverts, they would’ve been the best bank in this country” and many other replies.
In response to the incident that occurred at the Kuda Microfinance Bank premises, the Bank has drafted an official statement.
What Kuda is Saying!
Kuda MFB reacted to the tweet trending about the police brutality in its premises yesterday as it stated that, “It has come to out attention that a couple of videos are being circulated online regarding the experience of one of ouir customer’s yesterday. The videos show the customer being forcefully escorted off our premises by members of the Nigerian Police Force. We wish to unequivocally state that Kuda Microfinance Bank Limited (“Kuda MFB”) doesnot condone or support such violence in any manner, particularly against its own customers.”
The statement went ahead to include that, “Kuda MFB takes pride in providing a smooth, enjoyable and convenient customer service experience, both online and within the customer service centre which we have created solely to enable our customers to interface with our customer service team to deal with matters relating to their bank accounts.”
The Bank reminded the public of being a licensed financial institution as it stated that, “as a financial institution licensed by the Central Bank of Nigeria, we have an obligation to comply with the mandates of all applicable government and law enforcement agencies, supported by the appropriate documentation.”
The Bank went further to add that, “While complying with such mandates, we liaise with the affected customers so that any pending matters between the customers and the agencies are resolved. It is also expected that such affected customers will cooperate fully with the law enforcement agencies involved o reach a resolution on each matter.”
However, the Bank noted that the unfortunate incident was because of the customer’s failure to cooperate with the law enforcement agencies during their investigation of the alleged criminal activity on the customer’s account.
The Bank mentioned that, “we wish to reiterate that no staff of the Kuda MFB was involved in the unfortunate incident that was captured in the video. We have however commenced our internal investigations into this matter and in due time, will liaise with the customer as well as the relevant law enforcement agencies in order to ensure that this matter is adequately addressed. We are committed to providing a safe environment for our staff and continue to maintain our responsibility to our customers and the public, to provide safe and secure banking services.”
Keynotes
Kuda Microfinance Bank was founded in 2009 to carry on the business as a microfinance institution, and to do other business incidental thereto, which the regulatory authority will specify from time to time.
Kuda Microfinance Bank provides free banking services to Nigerians through digital technology and it is regarded as the “Bank of the free” as it gives 25 free transfers every month if you sign up with your Bank Verification Number (BVN). Without your BVN, you’ll get 2 free transfers every month.
Kuda Bank does not have branches like other commercials banks. However, they have a physical branch at Yaba, Lagos,, Nigeria and other customer service centres.
