Savannah Bank customers petition Jonathan over trapped deposits

Customers of Savannah Bank under the aegis of Concerned Customers whose deposits had been trapped in the bank over the years have sent a Save Our Soul (SOS) message to President Goodluck Jonathan, the National Assembly and Minister of Finance/Coordinating Minister of the Economy, Dr. (Mrs.) Ngozi Okonjo-Iweala, over their plight.

In the SOS endorsed by Chief John Paul Okoye, Ladi Otumba and Alhaji Idi Mohammed, on behalf of other depositors, the concerned customers stated how their money had been trapped in the bank since February 2002 following its closure.

The customers of Savannah Bank said they heaved a sign of relief when several years after some legal fireworks, the bank’s operational license was returned to its owners.

But they are piqued that since reinstating the bank’s licence neither the Central Bank of Nigeria (CBN) nor any other institution has done anything substantial to inject the needed funds or allow investors into the bank to enable it come back to operation.


The concerned customers recalled that while the Societe Generale Bank, which had the same problem at the same time with Savannah Bank had concluded the injection of funds from investors that enabled it to commence operations under the name, Heritage Bank, the same could not be said to be so with the latter.

“Many of the bank’s customers have died, others have had their businesses collapsed, while many more have lost their beloved ones due to the continued insensitivity of the owners of the bank to hardship the depositors are passing through.

“Some of us that are still alive are living from hand to mouth while our hard earned money is still trapped in Savannah Bank as the owners of the bank are not doing anything to get the bank back to operations. We are dying gradually by the day.”

The concerned customers of Savannah Bank therefore appealed to President Jonathan, National Assembly, the Minister of Finance/CME and CBN to, as a matter of urgency, intervene in the matter to save more lives and families from death.

Source : SunOnline

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