It's no longer news that EYOWO was one of the mfb that was affected by the decision of the apex bank CBN to revoke their license.
A question that bothers me is what happens to customers funds in the bank, the bank claimed to have over 2million customers which am one of them, does that means that our money is gone,it's over a week and nothing is being done about our money. The CEO is only apologizing and giving us hope. Another question is, why is Eyowo not trending on Twitter. Only irrelevances like colos,yansh, gambling are trending there, customers are crying on eyowo's twitter page and still nothing of it is been talk about. So we can just wake up one morning and CBN decides to revoke our banks license,our money will be stuck and everyone will move on as if nothing happened.
Why can't people trend this issue the same way we talk about sex and yansh so emefiele will know that there are people going hungry because they can't have access to their money in the bank.

I feel your pain, I believe depositors funds were insured by NDIC. You be reimbursed before you know it.

PECON1:
It's no longer news that EYOWO was one of the mfb that was affected by the decision of the apex bank CBN to revoke their license.
A question that bothers me is what happens to customers funds in the bank, the bank claimed to have over 2million customers which am one of them, does that means that our money is gone,it's over a week and nothing is being done about our money. The CEO is only apologizing and giving us hope. Another question is, why is Eyowo not trending on Twitter. Only irrelevances like colos,yansh, gambling are trending there, customers are crying on eyowo's twitter page and still nothing of it is been talk about. So we can just wake up one morning and CBN decides to revoke our banks license,our money will be stuck and everyone will move on as if nothing happened.
Why can't people trend this issue the same way we talk about sex and yansh so emefiele will know that there are people going hungry because they can't have access to their money in the bank.

OK. Any other lamentation?

Solsix:
I feel your pain, I believe depositors funds were insured by NDIC. You be reimbursed before you know it.

🙏

PECON1:
It's no longer news that EYOWO was one of the mfb that was affected by the decision of the apex bank CBN to revoke their license.
A question that bothers me is what happens to customers funds in the bank, the bank claimed to have over 2million customers which am one of them, does that means that our money is gone,it's over a week and nothing is being done about our money. The CEO is only apologizing and giving us hope. Another question is, why is Eyowo not trending on Twitter. Only irrelevances like colos,yansh, gambling are trending there, customers are crying on eyowo's twitter page and still nothing of it is been talk about. So we can just wake up one morning and CBN decides to revoke our banks license,our money will be stuck and everyone will move on as if nothing happened.
Why can't people trend this issue the same way we talk about sex and yansh so emefiele will know that there are people going hungry because they can't have access to their money in the bank.

Customers are not to loose their money when a bank looses it's license. As soon as a bank's operating license is revoked, officials of NDIC immediately takes over the bank's properties including contents of it's vault thereby effectively stopping further transactions. They now would look into the bank's debt, how much are they owing their customers and they pay from the bank's vault. if they exhaust's the monies, and there are still customers still owed, then NDIC begins selling off the bank's properties. they would do this till they've paid off all customers. Whatever left after settling the bank's customers is now left as the bank's property, BUT should it be they've sold everything, yet there are still customers being owed, they NDIC takes their own money and pay such customer.

Mind you, that you had ₦5 million in your savings account, doesn't mean NDIC would pay you ₦5 million. in fact if you have ₦2 million in your account, they would give you to the tune of ₦500,000 . So you still would loose money, but at least you go still get something.

That's reason why You need ensure whatever bank you bank with, is insured with NDIC.

Also that's reason you shouldn't bank with mushroom banks.

As for people who keep blaming CBN for revoking bank's license, you guys really don't understand why they're doing so but it's mostly in customers' interests. Every bank has a couple of conditions they need meet to be able to retain their license and their operation capiital is one of such. no bank is supposed to do business with customers' money.

bassdow:


Customers are not to loose their money when a bank looses it's license. As soon as a bank's operating license is revoked, officials of NDIC immediately takes over the bank's properties including contents of it's vault thereby effectively stopping further transactions. They now would look into the bank's debt, how much are they owing their customers and they pay from the bank's vault. if they exhaust's the monies, and there are still customers still owed, then NDIC begins selling off the bank's properties. they would do this till they've paid off all customers. Whatever left after settling the bank's customers is now left as the bank's property, BUT should it be they've sold everything, yet there are still customers being owed, they NDIC takes their own money and pay such customer.

Mind you, that you had ₦5 million in your savings account, doesn't mean NDIC would pay you ₦5 million. in fact if you have ₦2 million in your account, they would give you to the tune of ₦500,000 . So you still would loose money, but at least you go still get something.

That's reason why You need ensure whatever bank you bank with, is insured with NDIC.

Also that's reason you shouldn't bank with mushroom banks.

As for people who keep blaming CBN for revoking bank's license, you guys really don't understand why they're doing so but it's mostly in customers' interests. Every bank has a couple of conditions they need meet to be able to retain their license and their operation capiital is one of such. no bank is supposed to do business with customers' money.

like this does eyowo have physical assets. CBN should ensure this fintech banks have offices nationwide

PECON1:
like this does eyowo have physical assets. CBN should ensure this fintech banks have offices nationwide

Read somewhere that you can use funds to buy airtime using the bank app.

Try that and sell off if it works at a 10-20% fee by the buyer.

Sheisenough01:


Read somewhere that you can use funds to buy airtime using the bank app.

Try that and sell off if it works at a 10-20% fee by the buyer.

currently doing that. Sold 200k airtime at 20percent loss,better than loosing all. Next week I resume selling off the rest.
I feel for those having millions there, imagine loosing 200k why trying to sell 1mill.

PECON1:
currently doing that. Sold 200k airtime at 20percent loss,better than loosing all. Next week I resume selling off the rest.
I feel for those having millions there, imagine loosing 200k why trying to sell 1mill.

You could Sell to me at 15% loss if you don't mind. That's 850 for every 1k

lawrenzooo:

You could Sell to me at 15% loss if you don't mind. That's 850 for every 1k

The person am selling to,I don't know him but he has a website, and a verifiable address @20percent. Yours is 15percent but you are faceless, what of if u decides to play the fast one, how will I recover,
Convince me u ar genuine and we do biz

PECON1:
The person am selling to,I don't know him but he has a website, and a verifiable address @20percent. Yours is 15percent but you are faceless, what of if u decides to play the fast one, how will I recover,
Convince me u ar genuine and we do biz

I get your point. I am not too sure how I can convince you. But you can trust me.

Let's do it this way. We deal in small bits. For every 5k you send I credit your account that.

How about that?

PECON1:
currently doing that. Sold 200k airtime at 20percent loss,better than loosing all. Next week I resume selling off the rest.
I feel for those having millions there, imagine loosing 200k why trying to sell 1mill.

Why would a reasonable person put millions of Naira in an online bank with no physical location and very poor regulatory framework?!

So because someone wants to avoid paying COT and other bank charges to GTB or Zenith Bank he now went to jump into an online bank and he will now loose thousands if not millions

.

eddyexchange:
Airtime still going recharge and sell to me... I buy only MTN my what's app no in bio %20 off

convince me u are genuine,I will send airtime of 50k from my eyowo account

PECON1:
convince me u are genuine,I will send airtime of 50k from my eyowo account

Hello, I would be interested to deal with you. 6k at 20%. My No is all over Nairaland and I have been a member since 2015.

So easy it’s to Doxx me… once I get the airtime, I credit you fast.

Quote Me you are game

PECON1:
convince me u are genuine,I will send airtime of 50k from my eyowo account

No response?

I’m serious about buying

StrafordSTONES:




No response?

I’m serious about buying

send private message with ur WhatsApp number,I won't drop my number openly here

PECON1:
send private message with ur WhatsApp number,I won't drop my number openly here

I have lost acess to the mail I registered this account with. WhatsApp me on zero, eight 1, 4-2, six zero, 2-5-5- 8.


I would expect your message thanks

.

PECON1:
like this does eyowo have physical assets. CBN should ensure this fintech banks have offices nationwide

One thing to be aware of, is that most (if not all) so called finTech companies like OPAY , PALMPAY , etc; are not direct finanical banks - what they do is partner with a (microfinance) bank on a while label level so they operate like it's they who actually own them. For example, OPay products are powered by Blueridge microfinance bank, PALMPAY is licensed by CBN as Mobile Money Operator and KUDA is licensed by CBN as a microfinance bank.

PECON1:
currently doing that. Sold 200k airtime at 20percent loss,better than loosing all. Next week I resume selling off the rest.
I feel for those having millions there, imagine loosing 200k why trying to sell 1mill.

How reliable is this information ?

Asking so you don't end up (unintensionally) leading others astray

StrafordSTONES:




No response?

I’m serious about buying

why not try contact the bank / app ?

make person no go run you street

bassdow:
How reliable is this information ?

Asking so you don't end up (unintensionally) leading others astray

eyowo is gone but our money is still there, u either wait for them to resolve their issues or u get it out 2ru airtime but the question now is which bank has successfully regained their license back after it was taken by CBN,the answer is none.

bassdow:

One thing to be aware of, is that most (if not all) so called finTech companies like OPAY , PALMPAY , etc; are not direct finanical banks - what they do is partner with a (microfinance) bank on a while label level so they operate like it's they who actually own them. For example, OPay products are powered by Blueridge microfinance bank, PALMPAY is licensed by CBN as Mobile Money Operator and KUDA is licensed by CBN as a microfinance bank.

u are right, I have learned alot with this eyowo issues things I never knew before

PECON1:
eyowo is gone but our money is still there, u either wait for them to resolve their issues or u get it out 2ru airtime but the question now is which bank has successfully regained their license back after it was taken by CBN,the answer is none.

if they're insured by NDIC , then you should get back your money. All you need do is wait a little for them to resolve things because when license is withdrawn, NDIC officials takes over all bank operations. Also they stop all further transactions hence don't want to believe it when people say you could convert your funds to airTime. As in, how do you even get access to it ?

One life saver I would suggest is - never save millions in a single Nigerian Bank. Rather, split it into batches depending on the amount NDIC insures e.g for most Deposit Money Banks, NDIC insures up to 500,000 naira hence should you have, and want to save 2-million naira , you split it into 4 groups and save them in 4-banks so should things go wrong, NDIC would give you your 500,000 naira + there's very low possibility of the whole banks going down at once.

NDIC insures up to just 500,000 naira for DepositMoneyBanks (e.g Zenit, FirstBank, GTB, etc) and PrimaryMortgageBanks (e.g Abbey Building Society Plc). For those saving money in MicroFinanceBanks, the maximum is 200,000 naira .

If you get 2-million, and you put it all in 1-bank, should they go down, NDIC would give you 500,000 naira (if the bank is a DMB e.g firstBank, GTB, etc) or 200,000 naira (if the bank is a MicroFiananceBank) and you loose the remaining 1.5-million to 1.8-million naira.

PECON1:
eyowo is gone but our money is still there, u either wait for them to resolve their issues or u get it out 2ru airtime but the question now is which bank has successfully regained their license back after it was taken by CBN,the answer is none.

it would be difficult for them to regain their license because CBN doesn't just withdraw their license any how.

There are laid out rules which are clear enough. You don't want to know the kind of things happening in banks. Also CBN mandates all banks to have some sort of minimum operating capital + some extra monies they need keep with CBN. They [CBN] don't want BANKs doing business with customer's money. Now some banks (it's even worse among the MFBs) would one way or the other, breach those rules.

Now CBN wouldn't just sit back and ignore them, they would give them so much time to make amends. That time could be over 1-year. over 98% of the time, the banks knows when their license would be withdrawn.

fv

j

w

PECON1:
eyowo is gone but our money is still there, u either wait for them to resolve their issues or u get it out 2ru airtime but the question now is which bank has successfully regained their license back after it was taken by CBN,the answer is none.

The banks don't have to regain their license for you to get back your money. that's what NDIC are there for

PECON1:
u are right, I have learned alot with this eyowo issues things I never knew before

Hello, I didn’t get any message from you.


You are selling again I guess

bassdow:


if they're insured by NDIC , then you should get back your money. All you need do is wait a little for them to resolve things because when license is withdrawn, NDIC officials takes over all bank operations. Also they stop all further transactions hence don't want to believe it when people say you could convert your funds to airTime. As in, how do you even get access to it ?

One life saver I would suggest is - never save millions in a single Nigerian Bank. Rather, split it into batches depending on the amount NDIC insures e.g for most Deposit Money Banks, NDIC insures up to 500,000 naira hence should you have, and want to save 2-million naira , you split it into 4 groups and save them in 4-banks so should things go wrong, NDIC would give you your 500,000 naira + there's very low possibility of the whole banks going down at once.

NDIC insures up to just 500,000 naira for DepositMoneyBanks (e.g Zenit, FirstBank, GTB, etc) and PrimaryMortgageBanks (e.g Abbey Building Society Plc). For those saving money in MicroFinanceBanks, the maximum is 200,000 naira .

If you get 2-million, and you put it all in 1-bank, should they go down, NDIC would give you 500,000 naira (if the bank is a DMB e.g firstBank, GTB, etc) or 200,000 naira (if the bank is a MicroFiananceBank) and you loose the remaining 1.5-million to 1.8-million naira.

they are not insured by NDIC,I have searched