Hmmm

I’m equally curious as to why the extreme measures are so crucial shortly after the acquisition/ merger with diamond bank....

OkoyeA1:
Something is brewing. E b like the bank is going bankrupt.


UBA should go and buy it, some people will end up having three UBA Account , UBA, Access, Diamond

OkoyeA1:
Something is brewing. E b like the bank is going bankrupt.


UBA should go and buy it, some people will end up having three UBA Account , UBA, Access, Diamond

inherited debts from diamond bank acquisition

FhukaFhuka:
..... WE DEY WAIT FOR UNION BANK

If you think Union Bank will go bankrupt then you are a learner

Make I go move my funds from this bank.

Ravon:
Access Bank Plc is set to publish the list of all its delinquent debtors, associated persons, directors and entities. This is in line with the 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 management of the Bank noted that it shall publish its debtors’ names in newspapers in two weeks.

Similarly, in the event that these obligations are not fulfilled, the bank shall take such further actions against such delinquent individuals and companies as it may consider necessary and shall relentlessly pursue full recovery of all its debts. For incorrigible debtors, who continue to pose a risk to the bank’s system, AccessBank will use all means available and collaborate with colleagues in the industry to ensure that they are excommunicated 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.

Consequently, Access Bank hereby advise all delinquent debtors to take this publication seriously and ensure that all their debts are settled promptly.

SOURCE: https://brandspurng.com/2019/05/25/access-bank-to-publish-names-of-debtors/

THIS IS SIGN OF A DISTRESS BANK

BUSHHUNTER:
Unprofessional...What happen to privacy?

Did you miss the part that said "in line with the directive from the CBN"?

Abegi go pay up in the next two weeks o (even if it means taking another loan) or you will be dragged on Nairaland.
>

mrLhanray:
Yes, Name and shame the debtors. I feel no pity for these banks, they won't give loans to avg Nigerians, while they give high profile citizens loans worth billions, which they will be reluctant to pay back. most of those companies owe banks...

Bros, sadly most of us know from personal experience that "average" Nigerians do not repay loans either - and have no shame as well!
>

My account is on debit, won't they publish mine bayi ?

OkoyeA1:

Something is brewing. E b like the bank is going bankrupt.

ajayiopy:

THIS IS SIGN OF A DISTRESS BANK

Only in Nigeria is aggressively pursuing debtors deemed a sign of impending bankruptcy or distress...

Truth is that many Nigerians have cultivated the culture of "borrowing" money (and not just bank loans, but even from family and friends) with NO intention of ever repaying same. It was clear when Access Bank acquired Diamond Bank, it would aggressively pursue the latter's debtors. Sadly, though, even this may not work - because (unlike in our parents' and grandparents' era when a "good" name was as good as capital itself) frankly many Nigerians have NO shame! SMH
>

9jaRealist:


Did you miss the part that said "in line with the directive from the CBN"?

Abegi go pay up in the next two weeks o (even if it means taking another loan) or you will be dragged on Nairaland.
>

Does a directive from the CBN waive off the duty of confidentiality placed on Access by virtue of the banker-customer relationship?

Was it the CBN that placed the duty of confidentiality on banks or it's enshrined in the law?

By the time debtors start suing Access for billions of Naira even more than their outstanding obligations, Access would know better.

All you will see in the list is okafor chinedu Ugochukwu chika Maduka na this region people borrow pass.

They owe as if there is no tomorrow. Publish the names and shame them please.

Tufiakwa

MrMcJay:


Does a directive from the CBN waive off the duty of confidentiality placed on Access by virtue of the banker-customer relationship?

Was it the CBN that placed the duty of confidentiality on banks or it's enshrined in the law?

By the time debtors start suing Access for billions of Naira even more than their outstanding obligations, Access would know better.

Of course, it does...

Not sure where you got your law degree from, but even pupil lawyers are aware that a bank's duty of confidentiality towards its customers is NOT absolute! And one exception to the duty is disclosure required/mandated by extant laws and/or regulations.

The CBN is the primary regulator of banks recognized by law. The CBN grants each bank the license to operate in Nigeria, and part of that licensing mandates banks to act in accordance with the various directives and regulations of the CBN, as issued from time to time.
>

9jaRealist:


Of course, it does...

Not sure where you got your law degree from, but even pupil lawyers are aware that a bank's duty of confidentiality towards its customers is NOT absolute! And one exception to the duty is disclosure required/mandated by extant laws and/or regulations.

The CBN is the primary regulator of banks recognized by law. The CBN grants each bank the license to operate in Nigeria, and part of that licensing mandates banks to act in accordance with the various directives and regulations of the CBN, as issued from time to time.
>

I would ignore the pejorative intent of the second paragraph, it shows your frustration and shame at having to cook up an argument that you inherently know is unintelligent.

Every right has its limitations and Banker-customer relationships just like Attorney-client relationships are not exceptions. However, the exceptions are stated by the law and not the CBN. The CBN act and the BOFIA doesn't give the CBN the legal right to create this exception. Assuming it was a case of fraud or criminal matter, it's a different thing. But this is a civil matter and I expect you to know better. FYI, I took a 1st-generation bank up on a related matter relating to unauthorised disclosures to a third party and they ended up apologising profusely

There was a time the EFCC towed this same unintelligent line of reasoning by including Law firms in its SCUML exercise, the Supreme Court held otherwise.

Banks can unofficially and surreptitiously blacklist debtors using Credit Bureau and similar platforms but to post this one out, forget it

There is no existing SC judgment on this matter and the day it gets to that level, the CBN and the guys in the banks would be damned to listen opinions like yours.

MrMcJay:


I would ignore the pejorative intent of the second paragraph, it shows your frustration and shame at having to cook up an argument that you inherently know is unintelligent.

Every right has its limitations and Banker-customer relationships just like Attorney-client relationships are not exceptions. However, the exceptions are stated by the law and not the CBN. The CBN act and the BOFIA doesn't give the CBN the legal right to create this exception. Assuming it was a case of fraud or criminal matter, it's a different thing. But this is a civil matter and I expect you to know better. FYI, I took a 1st-generation bank up on a related matter relating to unauthorised disclosures to a third party and they ended up apologising profusely

There was a time the EFCC towed this same unintelligent line of reasoning by including Law firms in its SCUML exercise, the Supreme Court held otherwise.

Banks can unofficially and surreptitiously blacklist debtors using Credit Bureau and similar platforms but to post this one out, forget it

There is no existing SC judgment on this matter and the day it gets to that level, the CBN and the guys in the banks would be damned to listen opinions like yours.

You can personally insult me all you want (I have no interest in joining you in that gutter, because I was raised better)...
But I reaffirm that, while I am not sure of the quality of your legal education (if any), the positions that you take are at odds with extant law.

The CBN Act and BOFIA are NOT the only sources of law affecting the conduct or business of banking in Nigeria. In addition to several other statutory laws (such as CAMA, ISA, NDIC Act, EFCC Act, AMCON Act, Foreign Exchange Act 1995, Financial Reporting Council Act, etc.), common law also applies. So the notion that everything about the regulation of bank must be specified in the BOFIA or CBN Act is legal malpractice. Nonetheless, even BOFIA itself SPECIFICALLY gives the CBN Governor discretionary powers to issue regulations that give effect to the "object and objectives" of the Act (which of course would include the financial viability and well-being of banks).

It is LAW 101 that in general statutes are MACRO in nature, and thus administrative guidelines, rules and regulations are necessary to address MICRO regulatory circumstances. For example, the CBN's guidelines restricting the sale of foreign currency for certain specific imported items (the 41 or 42 items precluded from the official forex window) are NOT specified by the CBN Act, BOFIA or any other statute, but rather through guidelines issued by the CBN attendant to its power to manage exchange rates. Consequently, when legal doctrine and/or precedent (either pursuant to statutory or common law) refers to the "compelled by law" exemption, it by definition includes regulatory directives/circulars.
>

MrMcJay:

I would ignore the pejorative intent of the second paragraph, it shows your frustration and shame at having to cook up an argument that you inherently know is unintelligent.

Every right has its limitations and Banker-customer relationships just like Attorney-client relationships are not exceptions. However, the exceptions are stated by the law and not the CBN. The CBN act and the BOFIA doesn't give the CBN the legal right to create this exception. Assuming it was a case of fraud or criminal matter, it's a different thing. But this is a civil matter and I expect you to know better. FYI, I took a 1st-generation bank up on a related matter relating to unauthorised disclosures to a third party and they ended up apologising profusely

There was a time the EFCC towed this same unintelligent line of reasoning by including Law firms in its SCUML exercise, the Supreme Court held otherwise.

Banks can unofficially and surreptitiously blacklist debtors using Credit Bureau and similar platforms but to post this one out, forget it

There is no existing SC judgment on this matter and the day it gets to that level, the CBN and the guys in the banks would be damned to listen opinions like yours.

Btw, in August 2015, ALL Nigerian banks published a list of debtors in national newspapers pursuant to a CBN directive.
>

OkoyeA1:
Something is brewing. E b like the bank is going bankrupt.


UBA should go and buy it, some people will end up having three UBA Account , UBA, Access, Diamond

when someone without sense comments on a post...

9jaRealist:


Btw, in August 2015, ALL Nigerian banks published a list of debtors in national newspapers pursuant to a CBN directive.
>

First Bank has been doing same for years. Your points are very valid.

With the use of BVN,...no escape route.

9jaRealist:


Bros, sadly most of us know from personal experience that "average" Nigerians do not repay loans either - and have no shame as well!
>

yea that's true, no more conscience from anybody