CBN gives Savannah Bank Customers new hope .Says depositors may recover their funds

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CBN gives Savannah Bank Customers new hope

.Says depositors may recover their funds

By Faith Idem & Udeme Clement

The Central Bank of Nigeria, CBN, has given a new hope to customers who deposited their money with Savannah Bank before the financial crisis, saying there is the tendency for such individuals to get their money back.

The Apex bank made this known at the third biennial Bank Customers Summit, organised by Bank Customers Association of Nigeria, BCAN, stressing that those category of Savannah Bank customers would recover their deposits.

The CBN Governor, Mr. Godwin Emefiele who gave this assurance through his representative, the Acting Director of Consumer Protection Department of CBN, T. Y Ahmed, said that the victims of Savannah Bank financial crisis would recover their hanging funds.

His assertion, “The CBN is aware of the Savannah bank financial crisis and all the issues that were involved.  As such, the Apex Bank is giving attention to these issues, after which we would know what could be decided in the case of Savannah Bank”.

In his remarks, the President of BCAN, Dr. Uju Ogubunka, said, “Some of us who were here last 2 years could recall that we raised the issue of Savannah Bank, which is still hanging in the balance”.

He point out, “The bank is hosting large deposits of our members, for over 17 years and nobody seems to know what is happening to the resumption or otherwise liquidation of the bank. Many people holding accounts in Savannah Bank died out of frustration, even as their dependants are suffering”.



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