Heritage Bank calls reports of N49 billion fraud ‘defamatory’ amid ongoing fund transfer delays

After a week of unaddressed allegations that the bank’s staff made away with ₦49billion, Heritage Bank has denied the report, but its customers are not convinced because they can’t make transactions 

Heritage Bank has denied reports alleging that a member of its information technology team diverted ₦49billion and disappeared. “The allegations are wrong and defamatory. These articles have used unrelated facts and conjecture to create a fictitious narrative, “the bank told TechCabal in a statement yesterday forwarded by Ozena Utulu, its corporate communication manager.

The bank said it has embarked on long-term sustainability plans premised on restructuring the bank, ensuring cost efficiency, and management of its assets, and confirmed reports that it had reduced its workforce. However, it stressed that the staff affected had been duly compensated. 

Despite these claims, customers banking with Heritage still struggle with poor customer service, delayed transfers, inability to move depositor funds and failure of the bank’s apps. Two customers confirmed this to TechCabal. A banking customer known as Isaac told TechCabal that he had been unable to withdraw his funds from Heritage Bank for the last seven days. “I have money in my account. I have been unable to withdraw it for days. I tried more than 20 times. I will have to visit the bank on Monday to remove my money,” he said.

Esther Onwubuya, another Heritage Bank customer, told TechCabal that the bank has been experiencing network issues that have made it difficult for her to withdraw money. “I don’t know if this has anything to do with the rumors. It’s always a hassle to send funds. Last month, we even had to go to the bank.”

And while Heritage bank however said in its statement that it’s committed to collectively driving growth and delivering exceptional service to all, Onwubuya is unmoved. “I saw the statement, but it doesn’t take away from what’s currently happening. I even hear that the ATM services are poor too.”