Access Bank Plc customers, especially those indebted to the financial institution, have been gripped by fear.
Why? The management of the bank headed by Herbert Wigwe has threatened to compile and release the list of all its debtors by June 2019.
This was contained in a statement issued by the bank on Thursday, May 23, 2019 in accordance with a directive from the Central Bank of Nigeria (CBN).
“All Access Bank Plc (including former Diamond Bank Plc) debtors are directed to pay up their past due obligations in order to avoid punitive actions being taken against them,” the bank said.
“Please note that we shall publish our debtors’ names in newspapers in two weeks.
“Similarly, in the event that these obligations are not fulfilled, we shall take such further actions against such delinquent individuals and companies as we may consider necessary and shall relentlessly pursue full recovery of all our debts.”
Access Bank further revealed it would work with other banks to ensure that chronic debtors are excluded from the banking system.
“Furthermore, all debtors will be sanctioned by the CBN and banned from participating in the Nigerian Foreign Exchange and Securities Exchange Markets and registered on the Credit Risk Management Systems (CRMS) Bureau as bad debtors making them, their directors and related entities illegible for any credit in the Nigerian Financial Markets.”
Earlier in May, the bank had announced that it would pay off a $200 million Eurobond issued by Diamond Bank in 2014.
Access Bank, it would be recalled, is currently one of Nigeria’s largest banks, having just concluded a seamless merger process with Diamond Bank in March.