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Microfinance Bank customers protest in Kano

By AbdulSalam Muhammad

Kano – Hundreds of Integrated MacroFinance Bank customers in Kano staged a peaceful protest at the premises of the Bank weekend over the financial House failure to meet their withdrawal request.

Vanguard learnt that most of the customers had approach the Bank on Friday with their withdrawal request ranging from N10, 000 and above only to be told that ‘no one can withdraw above N3, 000’.

According to a customer who gave his name as Musa Hambali,  peasants were attracted to make savings with the bank due to the endorsement by Governor Shekarau and the Emir, Alhaji Ado Bayero from inception last year, adding that what they thought was a good offer has turned to deceit.

Hambali who claimed he had N95, 000 in  his savings Account called on the Kano state Government to intervene and bail them out of the crisis, pointing out that the cash crunch the Bank is experiencing became noticeable two months ago.

“We have been deceived by the officials of the Bank to save our money, and can not withdraw same now, and I hereby called on the Kano Governor and the emir to intervene to save the peasants from loosing their savings”, Musa Hambali to Vanguard during the charged protest.

Vanguard further learnt that the panic withdrawal by customers might not be unconnected with Bank liquidity problems following the withdrawal of shares by a major partner some months ago.

Another customer who gave his name as Mustapha Inuwa told Vanguard that his friends drew his attention to the financial problem facing the Bank, lamenting that despite the liquidity squeeze officials of the Bank still go round to collect money from unsuspecting customers.

When contacted , the Business Manager of the Bank, Olu Buraimoh told Vanguard that he is not competent to speak on the issue and pleaded for time to seek clearance from his superiors in Lagos.


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