A row has broken out between a leading new generation bank and a customer over a failed transaction.

The bank debited the customer’s account of N100,000 despite not paying the intended beneficiary the amount. The customer, Mr Dapo Aderinola, a former Editor of Daily Times, transferred the money last October 4 to the bank account of his bereaved friend, but it ended up in a new generation bank account of another person.

Following his complaint, the bank said it was an “erroneous transfer” and promised to resolve the issue by October 10. But it did not.

Rather, it asked the customer for a court affidavit before reversing the transaction.

Its October 19 message to Aderinola reads: “Sequel to your complaint of an “erroneous transfer” of N100,000 made on 04/10/2023, please note that we tried reaching the beneficiary on call to get her consent for a reversal, but her mobile phone seems to be turned off. We will keep trying.

“We apologise for the inconveniences this may have caused you. Kindly send a court order/police report.”

He was also asked to give an undertaking to indemnify the bank from liability in the failed transaction.

Aderinola subsequently obtained a court order and on November 15, the bank reversed the transaction and credited his account with N100,000.

“We wish to inform you that a credit transaction occurred on your account with us. REVERSAL OF ENTRY NGN100,000.00 CR Court Order RVSL- Wrong Transfer From Aderinola Oladapo…”, the message read.

Aderinola said the process to get his money back was stressful, wondering why Nigerian banks treated their customers that way.