Kayode Awotile, Managing Director of Emense Technology, says Fidelity Bank fraudulently deducted N1.98 million from his company’s account and has refused to reverse the transaction despite several formal complaints, a police invitation and legal intervention.
Awotile told FIJ that the incident, which occurred on November 18, has left him and his company in distress as he continues to demand answers and restitution from the bank.
He said he suspects the incident was part of a well-coordinated scheme, especially since Fidelity Bank failed to acknowledge or stamp a cheque he had issued to a client.
Awotile said it all began after he issued a cheque to a client’s Fidelity Bank account. While loading the goods he had purchased, he asked the client whether the cheque had cleared, but they said it hadn’t.
“Around 2 pm, I called the client to confirm, and he said his branch of Fidelity Bank had sent the cheque to my International Airport Road branch for confirmation. He also said they had sent a reminder, but there was still no response,” Awotile told FIJ.
One of the debit alert emails Awotile received
Awotile said that at some point, he checked his account balance and found that Fidelity Bank had not debited him. By 5 pm that day, he decided to visit the Fidelity Bank branch at International Airport Road the following morning to sort out the issue.
“But by the time I was getting down to my street at around 8 pm, I started receiving debit alerts. Before I could reach Fidelity Bank’s customer service to stop the deductions, N1,980,000 had already been withdrawn through point-of-sale transactions,” he recalled.
Another debit alert email Awotile received in November
“By the morning of Tuesday, November 19, 2024, when I got to the bank, I was met with inconsistent stories from the staff and management. Some said it was because my account didn’t have an account officer.
“Others said it wasn’t the same card I had been using that was with me. I asked why my cheque wasn’t confirmed, why it wasn’t stamped or endorsed as presented — but all I got were excuses.”
To recover his money, a frustrated Awotile said he wrote to the bank through his lawyer and reported the matter to the police, but to no avail. He said the bank failed to honour the police’s invitation.
“Although they partially admitted fault and said they would do the needful, they haven’t. This has caused business embarrassment and operational difficulties. At some point, it seemed they knew and admitted they were culpable,” he said.
“Even when my client presented the cheque, the bank refused to stamp it as received. Meanwhile, my balance remained intact. I kept following up to get the cheque cleared, but they kept saying the International Airport Road branch in Lagos hadn’t responded.”
FIJ emailed Fidelity Bank about Awotile’s missing funds on May 21, but a respondent asked to communicate with Awotile directly.
“Kindly inform the account owner to revert with a written explanation of what happened to his card via email or visit any Fidelity Bank branch close to him for further assistance,” said Fidelity Bank
