Wonder Bank In Bakassi Runs Away With Customers Savings

In Breaking News, Business & Economy, National News, Reports

By Edima Frank

Ayi-Riwo Thrift Savings and Loans
Ayi-Riwo Thrift Savings and Loans

Customers of a micro-finance bank in Bakassi known as Ayi-Riwo Thrift Savings and Loans, MPCS limited have been thrown into confusion as they are unable to get back the principal amount they saved, talked less of the accruing interests.

CrossRiverWatch gathered from some of the aggrieved customers of the micro-finance bank that the owner of the bank, one Ayi-Riwo whose five staff, before now go from house to house, and shop to shop to canvass for customers to save their monies with them have suddenly shut its door against its loyal customers without any explanations.

Our Reporter further learnt that customers of the bank usually make savings every market day (Monday and Friday) to help them grow their businesses and for other basic needs, but unfortunately, their plans are shattered as the manager of the place is nowhere to be found while the premises of the bank is now under lock and key as several calls to their hotlines could not connect.

CrossRiverWatch Reporter on ground put a call through to one of those who lost their savings in the wonder bank and she responded that “from information I gathered, the business owner used people’s investment for politics. He could not pay back when people’s return of investment was due. They could not continue since investors started threatening them”.

“This is not the first time we are experiencing this. They come here to lie to us that they will give us money (loan) without collateral to help us in our businesses. After saving little money to qualify us for the said loan, they will run away with our money”, the customer who do not want her name to be mentioned for security reason asserted.

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