Access Bank is facing customer backlash as loan dispute sparks concerns over transparency and service delivery.
NewsOnline Nigeria reports that Access Bank is facing growing criticism over its handling of a customer loan dispute, with concerns emerging that the lender could risk losing customers if questions surrounding transparency and customer service are not adequately addressed.
The warning was issued by the President of the Bank Customers’ Association of Nigeria (BCAN), Dr. Uju Ogunbunka, following allegations made by a customer, Lydia Okodogbe, regarding a disputed loan facility and the bank’s alleged refusal to provide requested account statements.
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Okodogbe claimed that she obtained a loan from Access Bank in November 2022 and has since struggled to obtain detailed account statements despite making repeated requests over the past two years. She alleged that the lack of transparency raised concerns about the management of her loan account and claimed she discovered an additional loan entry of approximately N2.5 million which she said she did not apply for.
The customer further alleged that the unresolved issues negatively impacted her business operations, resulting in severe financial setbacks and the loss of hundreds of jobs.
“My business suffered significantly. At our peak, we employed about 400 people, many of whom have now lost their jobs because operations became unsustainable,” she said.
The dispute has prompted calls for intervention by the Central Bank of Nigeria (CBN), with stakeholders urging regulators to ensure customers receive fair treatment and access to essential banking information.
Reacting to the development, Ogunbunka questioned why a customer’s request for account statements would remain unresolved, stressing that providing such records is a basic obligation of financial institutions.
According to him, failure to address legitimate customer concerns could damage public confidence in the bank and potentially drive customers to competing institutions.
“The customer is not asking for anything extraordinary. Access to account statements is a fundamental right of every bank customer. If there is nothing to hide, the bank should provide the requested information and explain any outstanding issues,” Ogunbunka said.
He warned that continued dissatisfaction among customers could undermine the bank’s reputation and expose it to increased scrutiny at a time when competition within the banking industry remains intense.
The controversy adds to broader concerns about customer experience, dispute resolution mechanisms, and transparency standards within Nigeria’s banking sector, where trust remains a critical factor in customer retention.
In response to the allegations, Access Bank, through one of its officials, Hassan Dawodu, stated that the institution had taken steps to address technical issues affecting the customer’s account and was continuing investigations into the outstanding concerns.
However, as of the time of filing this report, the bank had not provided any further update on the matter, leaving questions unanswered and fueling concerns among observers about the handling of the dispute.
With customer confidence increasingly tied to responsiveness and transparency, analysts say the outcome of the case could have implications for Access Bank’s public perception and customer loyalty if the issues remain unresolved.
