Customers of Diamond Bank Nigeria using the bank’s mobile app eSUSU feature for group and personal savings have lamented non-payments, indicative of a probable financial crisis at the bank.

TheNewsGuru (TNG) reports this is following downgrade of Diamond Bank, reflecting uncertainty over its solvency and liquidity in view of very weak asset quality, highly vulnerable capital position as well as tight foreign currency (FC) liquidity ahead of an upcoming maturing USD200 million Eurobond in May 2019.

Customers who spoke with TNG at the weekend expressed fears of losing their hard-earned money following recent developments, especially rumours of acquisition, at the bank.

The customers said they had used the bank’s mobile app thrift saving feature consistently without issues since they were aware of it, but are worried after the bank refused to pay recently.

When contacted, officials at the bank told TNG that deactivation/liquidation process usually takes within 24 to 48 working hours to be completed.

However, one of the customers told TNG of having two personal saving plans on the eSUSU platform, and that, five days after end of the plans that Diamond Bank was supposed to make payments available, the bank was yet to pay.

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https://www.thenewsguru.com/diamond-bank-woes-worsen-customers-lament-non-payments/