A Nigerian woman has accused Access Bank of withholding over ₦500 million allegedly belonging to her late brother, Awal Edet. The case, which began since 2019 has shed light on the corruption in access bank and the Nigerian banking sector in general.
Awal Edet, who passed away on April 17, 2019, did not leave a will before his death. Before his passing, he reportedly disclosed details of his properties and bank accounts to his sister. To claim the assets, she obtained a Letter of Administration from the Abuja High Court.
On the court’s advice, she sought verification of the bank accounts linked to Edet’s Bank Verification Number (BVN) through the Central Bank of Nigeria (CBN). The CBN’s response revealed four accounts:
₦10 million in GTBank,
₦2.9 million in Diamond Bank (now part of Access Bank),
₦3 million in Keystone Bank, and
Over ₦500 million in a Diamond-Access Bank CBN-linked account.
Recovery of Funds
The woman successfully retrieved funds from GTBank and Keystone Bank upon providing the necessary documentation. However, issues arose with the accounts linked to Access Bank:
Diamond Bank Account (₦2.9 million):
Initially, Access Bank denied the existence of this account. After several visits and a confrontation with the branch manager, the bank admitted to the account and released the ₦2.9 million in cash.
Diamond-Access Bank CBN-Linked Account (₦500 million):
When she attempted to claim the ₦500 million, Access Bank initially denied the existence of the account. Upon presenting her brother’s BVN, the bank acknowledged the account but claimed it held only ₦1.35.
Frustrated by the discrepancies, the woman engaged a lawyer to demand a complete account statement and supporting documents, including details of all transactions from the account’s inception on June 10, 2016.
The bank provided a partial statement but allegedly omitted all transactions between 2016 and 2020. Despite multiple petitions and court interventions from 2019 to 2024, Access Bank reportedly continued to delay the process, raising suspicions of internal malpractice.
The woman believes that senior officials within Access Bank may have diverted the funds and are attempting to cover up the activities.
VeryDarkMan, a public advocate supporting the case, has called on Nigerians to pressure Access Bank into addressing the matter transparently. He urged the public to withdraw their funds from the bank as a form of protest, stating, “The future of Nigerian families depends on ensuring accountability in our banking institutions. We cannot allow such practices to continue unchecked.”
