Here comes the story according to PIDOMNIGERIA (On Twitter), an anonymous Journalist:
On the 12th of March 2023, the customer initiated a transfer of twenty million naira (20,000,000) from her account, expecting the transaction to go smoothly. However, to her dismay, the transfer failed, and the funds were not reversed as promised. Seeking resolution, she promptly contacted LOTUS BANK, only to be informed that the issue stemmed from network problems, ensuring that the reversal would be processed soon.
Days turned into weeks, and still, the anticipated reversal of the 20 million naira failed to materialize. Growing increasingly anxious, the customer diligently monitored her account, hoping for a resolution. Then, on the 15th of March, a cascade of alerts inundated her phone in the early hours. Astonishingly, LOTUS BANK had reversed a staggering one billion, eight hundred million naira (1,800,000,000) into her account while attempting to reverse the original sum of twenty million naira (20,000,000).
Recognizing the error, the customer promptly contacted the bank to report the erroneous reversal and the substantial amount involved. In response, LOTUS BANK assured her that they would compensate her, but on the condition that the excess amount would be withdrawn from her account. Willing to cooperate, she granted the bank permission to rectify the mistake.
Days turned into a seemingly interminable wait as the bank left the excess funds untouched in her account for a full three days before finally withdrawing the 1.8 billion naira. Unbeknownst to her, however, the bank took advantage of this time to tamper with her account and erase any evidence of their mistake.
When the customer proceeded to conduct routine transactions, she was met with repeated declines. Troubled by the repeated rejections, she visited her bank to seek clarification and request a statement of account. To her utter shock, she discovered that LOTUS BANK had violated her privacy and breached ethical standards by systematically deleting all records and transaction history related to the 1.8 billion naira that had erroneously entered her account. SMS and email alerts, as well as statements of account, were erased, leaving no trace of the incident. Furthermore, the bank went so far as to delete the records of the customer's own legitimate transfers and POS transactions.
Left with virtually no evidence to support her claims, the customer finds herself at a disadvantage in seeking redress. However, she managed to capture some screenshots during the period when the funds were being reversed, providing crucial evidence to substantiate her case.
She now calls upon LOTUS BANK to refute her allegations by presenting the transaction history that supposedly exists for her account. Additionally, she urges the Central Bank of Nigeria (@cenbank) to intervene and thoroughly investigate this distressing case of alleged fraud and misconduct.
As the gravity of these accusations weighs heavily on the reputation of LOTUS BANK, the need for transparency and accountability becomes paramount. The affected customer seeks justice for the financial and emotional turmoil she has endured, hoping that her story will serve as a catalyst for change and prompt necessary reforms in the banking sector. The integrity of financial institutions and their commitment to customer welfare should be steadfast, and any breaches of trust must be met with swift and decisive