Business
Banks Customers Lamenting Over Fraudulent Deductions
Customers of commercial banks are complaining bitterly about several unautorised withdrawals from their savings accounts.
A woman who gave her name as Ruth, told our reporter that she has resolved henceforth, to be keeping her money at home rather than in the bank.
She referenced her savings account at one of the UBA branches in Lagos, where she deposits profit from her crayfish and zobo business.” I use parts of the money to support the school fees for my children; I kept receiving withdrawal alerts as early as 5.am .
Sometimes, they withdrew N2000, N2,500 and even N4,000, for POS purchases, I didn’t make.
Other times, the alerts are not sent,” she lamented.” It’s banks that are doing it, a POS operator told her, adding, “go to your bank and complain about it.”
At the customers desk, she was asked , after scrolling through her account history, “whom did you shared your PIN details with?”None, Madam ,” she replied.
She was told to change her PIN number …Likewise , Lucy , a customer of Zenith Bank, couldn’t take it anymore.
Like a matador bull, she went to the bank and harassed the customers desk.
” You people are thieves…I didn’t buy anything online, you must return my money, she fumed”. “Calm , down; Madam…”, a security staff interjected.
Madam, I’m here for the same purpose. I had 18k+ in my savings account. I bought an item worth N2,800 for family dinner. I was left with a balance of 16k plus.
That was Friday May 24. In the morning, I went to the same POS point to withdraw 8k to attend a friend’s wedding.
The machine couldn’t disbursed but showed ” insufficient balance. They withdrew 12k and left 4k balance. ..” Another victim explained, “Cyber thieves are very smart and have been changing their mode of operations.
There’s a chip they are using to defraud customers, either from inside the bank or it’s planted with the POS. So, you don’t really know who’re the thieves – the Banks or the fintech operators – Opay, moniepoint, and the rest.
“Even children’s savings account are not spared. I want to close my child’s account, for the same wrongful deductions.
It’s sad that this is happening despite the billions of Naira /$ banks have spent on upgrades.
“Is it for nothing that they have been declaring billions of profits?, ‘quipped another customer, adding ” It’s hightime the CBN beams search light on them.”
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Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
Business
Nigeria’s oil production dropped by 4% in July – NUPRC
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.
According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.
The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
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