By Enyim Enyim
ONITSHAâ€”A businessman in Onitsha, Chief Mike Nwankwo has dragged the managements of the United Bank for Africa Plc and Spring Bank Plc before the Central Bank of Nigeria (CBN) and the Ethics and Professionalism Sub-committee of the Bankers Committee of the Chartered Institute of Bankers of Nigeria (CIBN) over alleged illegal charges/deductions against his bank accounts with them.
In a petition to the CBN Governor, dated MayÂ 22, entitled, â€œComplaint of illegal charges/deductions by UBA Plc and Spring Bank Plc againstÂ Goodness Investment Nigeria Limited Accounts Nos.Â 04070030000345 with UBA, No. 49 Uga Street, Onitsha branch and 0291001001857 with Spring Bank No. 39 Old Market Road, Onitsha branchâ€, Nwankwo, through his counsel, Mr Anthony Ogbonna urged the CBN Governor to intervene and rescue a number of businesses being stifled byÂ some commercial banks through alleged frivolous and illegal bank charges.
In an earlier petition to the chairman of the Bankers Committee of the CIBN, Nwankwo noted that on September 26, 2007, UBA offered him aÂ cash collaterised facility to the tune ofÂ N10.4 million, following an application to that effect.
According to him, on November 15, 2007, heÂ applied for anotherÂ loan facility of N9 million and onÂ November 13, 2007, UBA made a second offer of N9m onÂ a short term loan basis.
On February 28, 2008, he further stated, UBA madeÂ a third offer of N8.5 million for a short term loan ofÂ 90-day term, adding that based on the agreement, he wasÂ finally given a facility of N8.5m only, which had beenÂ rolled over for about five times and no document on same wasÂ given to him while the bank had continuously deducted andÂ calculated its high interest rate which is against CBNÂ guidelines on loan facilities to its customers.