Nigerian Youths are massively dumbing FCMB after Bank’s letter mandating her staff to treat young Nigerians as fraud suspects leaked online.
Newsonline reports that Nigerian Youths are massively dumping First City Monument Bank (FCMB) and closing up their accounts after a letter from the bank mandating her staff to treat people under age 18-30 as fraud suspects leaked online.
This online news platform understands that the FCMB letter is unconnected to the ban of cryptocurrency in Nigeria by the Central Bank of Nigeria.
The bank in the letter informed staffers to interrogate customers and inform compliance whenever an account with high volume transactions operated by individuals between the age brackets of 18-30 years as signatories is noticed.
Other account types with similarly discriminatory guidelines include youth savings accounts, business savings accounts, personal business accounts, amongst others. The bank did not define what constitutes a high volume of transactions, but the account types listed captured all of its available packages for Nigerian youths.
Due to this, there has been a call out against the bank by the youths and they are currently mobilizing to close down all accounts with the bank.
Also, Newsonline Nigeria gathered from a trending Twitter hashtag that some youths are calling for poor rating of the bank mobile app on play store for it to be deleted just as they did to Crowwe.
@Olamidewaslas2 wrote: ‘Can we just go to the App stores and do what we did to Crowwe to FCMB and one other Bank? This will help them know we have been pushed hard on the wall for too long’
See letter below
What Nigerian Youths Are Saying On Various Social Media Platforms:
@SamuelOtigba wrote: ‘Any young person between the age of 18-30, esp. those in tech or any digital related service like social media/digital marketing, online product sales, stock trading, online masterclasses/digital courses, don’t bank with FCMB or GTB. If you can, go & close your account rn.
@TiredNigeria: Seems this Buhari Government just wants all out war, because who bans crypto and block accounts FCMB GTB and Kuda also moving mad. Well it’s time for #EndSARS 2 because this govt will kill us if we don’t remove them from power. #LiquoroseLionDance
@Kynsofficial: See, I’m Tweeting from position of pain as a Young Nigerian entrepreneur. This 2021, it was fight against the youth. International fintech got banned e.g Transferwise for absolute no good reason, crypto and Twitter followed. FCMB now works for CBN, they simply don’t fear us &
@TosinOlugbenga: FCMB has put out an alert on accounts held by people between the ages of 18-30, asking staff to be on the lookout for money launderers and other criminal activities Dear FCMB & CBN, so it’s now young people who are money launderers? Not politicians stealing our commonwealth?
@Tintedeyekay: FCMB stereotyping accounts aged 18-30 based on crypto is just another example of how deep this country has fallen It’s a shame really “Talmabout treating them as fraud suspects”.This is indeed a lawless country.They kill us physically and still want to render us useless pennywise