Polaris Bank Clarifies Misunderstanding Over Customer’s Account

The bank has made significant efforts to address the concerns raised by the customer.

In an attempt to clarify the situation regarding the customer’s account, the bank’s management released a statement stating, “Contrary to the customer’s claims, Polaris Bank did not declare him dead. However, we received court documents stating his demise, and as a responsible financial institution, we have a duty to respect and comply with such documents in order to safeguard the customer’s deposit.”

The statement continued, “On May 11, 2023, the customer’s alleged widow, Olasele Tina, presented the court papers to the bank. These documents included a Bank Certificate dated May 2, 2023, a Statutory Affidavit of Next of Kin issued by the Probate Registry of a High Court of Justice, Federal Capital Territory, Abuja, and a death certificate issued by the National Population Commission (NPC), Abuja Municipal Area Council. The bank immediately flagged the customer’s account upon receiving this information, pending the issuance of Letters of Administration. We have verified the authenticity of the Bank Certificate with the court.”

The bank emphasized that the processing of Letters of Administration is solely a family matter and does not involve any participation from the bank or its staff.

The statement urged the customer, who claims to currently reside in Spain, to investigate individuals in his family with the name Olasele Tina, the person responsible for processing the aforementioned court papers.

Furthermore, the bank stated, “After the customer’s protest and our confirmation that he is indeed alive, we provided his lawyer with the necessary documents on May 16, 2023. Polaris Bank’s primary concern is always to safeguard customers’ funds. We are working closely with all stakeholders, including security agencies and the customer, to expedite the process. Once the process is satisfactorily completed, the bank will lift the precautionary no-debit (PND) restriction, enabling the customer to access his funds. This is the standard statutory procedure.”

Regarding the customer’s allegations of collusion to defraud him, the bank initiated an internal investigation, which has thus far yielded preliminary findings contrary to the customer’s claim.

The bank concluded the statement by advising Mr. Anthony Olasele, his family, friends, and social media representatives to allow the process to run its course.