{"id":20214,"date":"2018-09-04T19:13:14","date_gmt":"2018-09-04T19:13:14","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=20214"},"modified":"2018-09-04T19:13:14","modified_gmt":"2018-09-04T19:13:14","slug":"how-nigerian-banks-defraud-their-customers-by-dr-olu-funmilayo","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=20214","title":{"rendered":"How Nigerian Banks Defraud their Customers by Dr. Olu Funmilayo"},"content":{"rendered":"<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2018\/06\/Sheriff-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-19311\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2018\/06\/Sheriff-1.jpg\" alt=\"\" width=\"1080\" height=\"308\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2018\/06\/Sheriff-1.jpg 1080w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2018\/06\/Sheriff-1-300x86.jpg 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2018\/06\/Sheriff-1-768x219.jpg 768w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2018\/06\/Sheriff-1-1024x292.jpg 1024w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><\/a><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.newsroom247.com.ng --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">I\u2019m sorry. But that 52 naira 50kobo that Nigerian banks deduct per transaction, what exactly is it for?<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Why is no one speaking out against this blatant fraud?<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Next is the fraudulent \u201cCard Maintenance Fees\u201d by our Nigerian banks. Please how are you maintaining a card that lives in my wallet?<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">I have about 3-4 UK Bank Cards here. Both credit cards and debit cards.<\/div>\n<div dir=\"auto\">I have NEVER paid any such thing as a \u201cCard Maintenance Fee\u201d.<\/div>\n<div dir=\"auto\">NEVER EVER.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The Nigerian Banking Sector is an unfortunately over-bloated industry that thrives on systemically entrenched policies that terribly defrauds us Nigerians and lives on cheating the average citizen of the hard earned money that is entrusted in their care to help save and invest.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">You want to send money to someone from your Nigerian bank account and you first have to plan an extra 52 naira 50kobo.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Money that is electronically sent from one Nigerian bank account to another Nigerian bank account<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">What exactly is the charges for?<\/div>\n<div dir=\"auto\">Why is this fraud tolerated?<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Someone said the charges goes to NIPOST. I want to believe it is mere trolling as it makes absolutely no sense.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Please, How is Nipost involved in an ELECTRONIC money transfer?<\/div>\n<div dir=\"auto\">Did I put the money in an envelope and post it? Or what?<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">We deserve better.<\/div>\n<div dir=\"auto\">This is systemic cruelty.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">When I applied for ATM Cards in UK (both debit and credit), I was NEVER charged a penny.<\/div>\n<div dir=\"auto\">The card is given free.<\/div>\n<div dir=\"auto\">And \u201cmaintenance\u201d, if there\u2019s any such thing, is done free.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">IF we never get the chance to see how things happen in other places, we won\u2019t know we are being cheated.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">When I applied for an ATM Card in Nigeria, I was charged 1,000 naira to have one.<\/div>\n<div dir=\"auto\">And I\u2019m being charged some extra regularly in the pretence of an imaginary \u201cCard Maintenance Fees\u201d.<\/div>\n<p><code><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=16925&amp;ad_type=62&amp;rl=180\" width=\"728\" height=\"90\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/code><\/p>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This is systemic corruption and a fundamental banking fraud aimed at impoverishing us Nigerians.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Let\u2019s do a little maths, dear friends.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">According to NIBSS, as at December 2017, there was almost 65,000 daily Electronic Fund Transfers in 2017.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">At 52.50 naira per transaction, that\u2019s over 3 million naira a day.<\/div>\n<div dir=\"auto\">And about 1 billion naira a year.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Should this fraud continue?&#8217;<\/div>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.newsroom247.com.ng --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I\u2019m sorry. But that 52 naira 50kobo that Nigerian banks deduct per transaction, what exactly is it for? Why is no one speaking out against this blatant fraud? Next is the fraudulent \u201cCard Maintenance Fees\u201d by our Nigerian banks. Please how are you maintaining a card that lives in my wallet? I have about 3-4 [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":20215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[4],"tags":[],"class_list":["post-20214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2018\/09\/banks.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-5g2","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/20214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20214"}],"version-history":[{"count":1,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/20214\/revisions"}],"predecessor-version":[{"id":20216,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/20214\/revisions\/20216"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/20215"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20214"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}