Access Bank denies missing N500m allegation as social media debate intensifies

Access Bank Plc has refuted allegations circulating on social media that N500 million belonging to a deceased customer is missing from its custody, describing the claims as “untrue” and “baseless.”

In a statement released on Sunday, the bank addressed the viral accusations made by social media influencer Martins Otse, popularly known as VeryDarkMan. Over the weekend, Otse alleged that the family of a deceased customer was unable to access N500 million reportedly held in an Access Bank account.

Otse claimed the deceased had informed his family on his deathbed about funds in various accounts, including the substantial amount allegedly deposited with Access Bank.

He further alleged that the family encountered difficulties retrieving the funds due to the purported disappearance of the money.

Access Bank, in its statement, firmly denied the claims, emphasizing its commitment to safeguarding customer funds.

“Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behavior have been made against Access Bank Plc,” the statement read. “First and foremost, we wish to emphasize that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behavior.”

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The bank further clarified that investigations into the matter, conducted in collaboration with independent stakeholders in the banking industry, concluded that no such sum was missing.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless,” Access Bank said. “There is no N500 million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.”

The institution reiterated its adherence to high ethical standards, vowing to protect customer interests while respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public,” the statement added.

Otse, however, challenged the bank’s explanation, accusing it of withholding vital account details. Responding to the statement, he wrote:

“I just saw your response to the allegations of the missing 500 million naira from a dead client account. My first question to Access Bank is, why did the bank statement skip from 2016 to 2020? Where are the statements of 2017, 2018, and 2019?”

The allegations have sparked intense discussions on social media platforms, with users debating the bank’s response and Otse’s accusations. Many users have demanded further clarifications, while others criticized the influencer for what they deemed a lack of concrete evidence.

Despite Access Bank’s efforts to dispel the allegations, the debate continues to dominate conversations online, highlighting the growing influence of social media in shaping public perception and corporate accountability.