Access Bank denies missing $296,093, reaffirms commitment to ethical banking standards

Oluwatosin Racheal Alabi -

Key Points

  • Access Bank has debunked viral social media claims of missing N500 million ($296,093), emphasizing that no funds are missing and the allegations are baseless.
  • Independent investigations by the bank and industry stakeholders confirmed that Access Bank operates with the highest ethical standards and safeguards customer funds.
  • The bank reassured customers of its commitment to transparency and urged the public to disregard sensational, unverified claims meant to mislead.

Access Bank PLC, one of Nigeria’s leading financial institutions, has vehemently denied allegations circulating on social media regarding the disappearance of N500 million ($296,093) from its accounts. The bank's leadership, under Nigerian banker Aigboje Aig-Imoukhuede, issued a statement rejecting the claims and reaffirming its commitment to upholding the highest ethical standards in all its operations.

“Our attention has been drawn to a video circulating on social media that makes unsubstantiated claims of missing funds and unethical conduct against Access Bank,” the statement read. “First and foremost, we would like to emphasize that safeguarding our customers’ funds is a priority we take very seriously. Access Bank PLC does not, and will not, engage in any form of unethical behaviour.”

Independent investigations confirm no missing funds
In its statement, Access Bank also highlighted that both internal and external investigations have thoroughly examined the matter and found no evidence of any missing funds.

“The allegations of missing funds, including the specific claim of N500 million, are entirely false. No such amount is missing from the account of any customer,” the statement clarified. “We have conducted independent audits and investigations alongside industry stakeholders, and there is absolutely no truth to these claims.”

Reassuring customers amid false claims
In an effort to reassure customers and stakeholders, Access Bank reaffirmed its ongoing commitment to customer satisfaction and financial security. The bank urged the public to be cautious about unverified and sensational claims that often emerge online.

“We understand the concerns raised by these false claims, but we urge our customers and the public to remain calm and not be misled by unverified information,” the statement continued. “We are steadfast in our commitment to providing secure and transparent banking services.”

Access Bank’s legacy of ethical banking
Founded in 1988, Access Bank is one of Africa’s largest and most respected financial institutions, with operations spanning 22 markets globally and over 60 million customers. Known for its innovation, transparency, and customer-centric services, Access Bank continues to lead the way in ethical banking practices.

Access Bank’s response to the allegations reflects its dedication to maintaining trust and transparency, upholding the confidence of its stakeholders, and ensuring that ethical standards remain at the heart of its operations.