Scores of aggrieved customers of Jaiz Bank on Monday protested on the financial institution’s foremost department in Jos, Plateau State, over alleged fraudulent transactions involving greater than N100 million, demanding intervention by the Central Bank of Nigeria (CBN) and the federal authorities.
The protesters accused the monetary establishment of failing to resolve complaints over cash they mentioned had been transferred with out their authorisation.
Gathering on the financial institution’s premises with placards, they referred to as on the CBN, the Nigerian Bar Association (NBA) and the federal authorities to intervene and assist get better their funds.
Some of the placards bore inscriptions equivalent to: “CBN, come to our side, because the money was withdrawn unauthorised”; “Nigeria Bar Association, the ordinary need you here”; and “Federal Government, come to our rescue, we have been cheated.”
Speaking on behalf of the protesters, Hashim Faruk mentioned the dispute dated again to 2022, when a number of customers allegedly misplaced cash by way of transactions involving a employees member of the financial institution.
Mr Faruk mentioned the financial institution reported the matter to the Plateau State Police Command’s Criminal Investigation Department (CID), which investigated the allegations.
According to him, the police investigation recognized a financial institution worker, Habiba Abdulrahman, as the one who allegedly defrauded the customers.
He mentioned the police subsequently really helpful that the financial institution refund the affected customers however that the monetary establishment didn’t adjust to the advice.
Mr Faruk mentioned repeated efforts by the customers to safe a decision had proved unsuccessful, forcing them to stage the protest.
He referred to as on the CBN, the federal authorities and the NBA to intervene and be sure that the affected customers recovered their cash.
The protesters additionally demanded an impartial investigation of the disputed transactions, a particular timeline for the restoration of their funds and accountability for anybody discovered culpable.
Bank denies duty
However, when PREMIUM TIMES contacted Jaiz Bank’s authorized adviser, Munir Barau, who was designated by the financial institution’s administration to talk on its behalf, he disputed the customers’ claims that the monetary establishment was liable for the transactions.
Mr Barau mentioned the cash in dispute was not paid into the people’ Jaiz Bank’s accounts however into the non-public accounts of Ms Abdulrahman and her husband domiciled in the financial institution.
He defined that the couple collected cash from customers beneath investment preparations and paid them month-to-month returns starting from N50,000 to N100,000, relying on the quantities invested.
According to him, the association continued till the couple allegedly stopped making funds, prompting complaints from the affected customers.
Mr Barau cited the case of a buyer who allegedly invested N10 million with a promise to obtain N400,000 month-to-month, however whose funds had been subsequently discontinued.
He maintained that the financial institution was not a celebration to the investment preparations and that there was no official documentation establishing that the cash was paid into its accounts.
The authorized adviser additional disclosed that, throughout the police investigation, detectives visited Ms Abdulrahman’s residence, the place they allegedly recovered a number of financial institution deposit tellers.
He mentioned Ms Abdulrahman and her husband had been charged with fraud and legal conspiracy in reference to the transactions.
Agreement confirms N10m investment, N360,000 month-to-month returns
A three way partnership settlement obtained by PREMIUM TIMES supplies documentary particulars of the N10 million investment cited by Mr Barau.
The settlement, bearing the identify Munir Dansarina Global Ventures, identifies Abubakar Idris Zakariya and Munir Murtala Muhammad Dansarina because the events to the investment association.
It states that Mr Zakariya invested N10 million in a enterprise association in August 2025.
According to the doc, Mr Zakariya had obtained N1 million, leaving an excellent steadiness of N9 million.
The settlement additional states that the investment initially attracted a month-to-month revenue cost of N400,000, which was diminished to N360,000 following the cost of the N1 million.
The figures and cost association correspond with the N10 million investment and promised month-to-month return described by Mr Barau.
The settlement, signed by each events, additionally comprises a dispute-resolution clause requiring them to first try an amicable settlement earlier than approaching a reliable court docket.
Although the settlement supplies documentary affirmation of the investment association described by the financial institution’s authorized adviser, it identifies Mr Dansarina and Mr Zakariya because the contracting events and doesn’t identify Jaiz Bank as a celebration.
It subsequently establishes the investment association however doesn’t, by itself, set up whether or not the financial institution or its personnel had been concerned in facilitating it or whether or not the monetary establishment bears duty for any ensuing loss.
Customer disputes financial institution’s account
However, one other affected buyer, Amina Odoko, challenged the financial institution’s place, insisting that her dealings had been straight with Jaiz Bank and never Ms Abdulrahman.
Ms Odoko mentioned the transactions passed off contained in the financial institution’s premises and had been supported by official banking documents and transactions by way of a Jaiz Bank account.
She maintained that the customers handled the monetary establishment by way of its premises and established banking procedures, questioning the financial institution’s try to distance itself from the disputed transactions.
Her account contradicts Mr Barau’s assertion that the customers entered into non-public monetary preparations with the previous worker and her husband.
Bank assertion reveals N4m switch to investment beneficiary
A Jaiz Bank account assertion obtained by PREMIUM TIMES data a N4 million switch from a youngsters’s financial savings account to a beneficiary recognized in the transaction narration as Munir Dansarina Global Ventures.
The transaction, dated 9 May 2025, was recorded as a debit from an account belonging to Sani Ashraf Lawal Umar, which the assertion identifies as a youngsters’s financial savings account domiciled on the financial institution’s Jos department.
The assertion additionally data a switch cost of N53.75.
The beneficiary’s identify matches the enterprise identify showing on the three way partnership settlement between Mr Zakariya and Mr Dansarina.
The similar assertion data two credit of N999,500 and N1 million on 7 and eight May 2025, respectively, from First Bank, with transaction descriptions referencing Aisha Sani Muhammad.
It additionally data a N60,000 credit score on 15 May 2025 beneath a transaction narration referring to Habiba Abdulrahman.
Further entries show money deposits of N60,000 and N100,000 on 16 June 2025, alongside different credit in subsequent months.
The assertion establishes that the N4 million debit was recorded in opposition to the kids’s financial savings account and identifies Munir Dansarina Global Ventures because the beneficiary.
However, the assertion doesn’t set up the aim of the switch, whether or not it was authorised or whether or not it shaped a part of the investment preparations described by Mr Barau.
The switch was recorded in May 2025, whereas the three way partnership settlement states that Mr Zakariya made his N10 million investment in August of the identical 12 months. The out there documents don’t set up that the 2 transactions had been related.
Nevertheless, the transaction supplies a separate documentary path that warrants examination, significantly in gentle of the financial institution’s place that the disputed investments concerned private accounts fairly than the monetary establishment.
Court documents show separate fits in opposition to financial institution
Other documents obtained by PREMIUM TIMES show that Jaiz Bank is going through separate civil proceedings on the Plateau State High Court, Jos Judicial Division.
One of the circumstances entails Rose Dayu Gyang, who instituted an motion in opposition to Jaiz Bank Plc.
The writ of summons directs the financial institution to enter an look inside 30 days of service, warning that failure to take action may permit the claimant to proceed with the case and procure judgment in the financial institution’s absence.
The doc bears a Jaiz Bank receiving stamp dated 13 March 2026 and a High Court processing stamp dated 10 April 2026.
In one other motion, Umar Lawal Hashim and Aisha Sani Muhammad instituted proceedings in opposition to the financial institution on behalf of themselves and their three minor youngsters: Ashraf Sani Umar Lawal, Hauwa Khairy Umar Lawal and Muhammad Umar Lawal.
The originating court docket course of, obtained on the High Court on 6 August, additionally directs the financial institution to enter an look inside 30 days of service.
The documents show that the household instituted an motion in opposition to Jaiz Bank, though the writs alone don’t disclose the complete particulars of their claims or set up the financial institution’s legal responsibility.
An extra writ of summons obtained by PREMIUM TIMES identifies Abubakar Idris Zakariya as a claimant in an motion in opposition to Jaiz Bank and Mrs Habiba earlier than the Plateau State High Court, Jos Judicial Division.
The writ instructions the defendants to enter an look inside 30 days of service, warning that the claimant could proceed and procure judgment in their absence in the event that they fail to take action.
Although the handwritten swimsuit quantity on the doc shouldn’t be sufficiently legible, the writ supplies further proof of authorized proceedings involving the financial institution and Mr Zakariya, whose identify additionally seems in the three way partnership settlement detailing the N10 million investment.
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The settlement documents his investment association with Mr Dansarina, whereas the writ reveals that he additionally instituted proceedings in opposition to Jaiz Bank and Mrs Habiba.
The court docket documents set up that the actions had been instituted however don’t disclose their eventual outcomes or decide the financial institution’s legal responsibility.
Customers search regulatory intervention
The protesters urged the CBN to analyze the allegations and set up the circumstances surrounding the disputed transactions.
They additionally appealed to the NBA to offer authorized assist to the affected customers and referred to as on the federal authorities to intervene.
The dispute raises questions in regards to the duty of monetary establishments to guard customers in opposition to monetary misconduct, significantly the place allegations contain people employed by banks.
While Jaiz Bank maintains that the disputed investments had been non-public preparations between customers and its former worker and her husband, the affected customers insist that their transactions had been performed by way of the financial institution.
The investment settlement, account assertion, court docket processes and accounts supplied by each the financial institution and the affected customers current totally different features of the dispute.
However, the central points stay whether or not the disputed transactions had been performed by way of authorised banking channels, the extent of any involvement by financial institution personnel and who ought to bear duty for the customers’ losses.
The protesters mentioned they’d proceed to demand the restoration of their cash till the dispute was resolved.
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