A journalist, Mr. Musliudeen Atanda Adebayo, has petitioned the Economic and Financial Crimes Commission (EFCC), the Central Bank of Nigeria (CBN), and the Public Complaints Commission (PCC) over what he described as unauthorized and unjust deductions by NIRSAL Microfinance Bank.

 

Adebayo, submitted formal complaints to the EFCC Ibadan Zonal Office, the CBN’s Ibadan Branch, and the PCC’s Oyo State Office. In the petition, made available to journalists on Friday, he called for the intervention of the regulatory agencies to stop further withdrawals from his account.

 

Titled “Petition against NIRSAL Microfinance Bank over sudden increment of my payable loan,” the document outlines a series of grievances tied to a COVID-19-era fund of ₦180,000 he received in 2020—initially believed to be a grant, but later revealed to be a loan.

 

According to Adebayo, he was not informed that the money was a loan until August 2023, when he began receiving repayment notifications. Upon inquiry, he was told to pay back the principal sum plus a 15% interest—₦207,000 in total. He detailed multiple payments and deductions from various accounts, amounting to full repayment of the principal and the agreed interest.

 

However, Adebayo said the bank later demanded an additional ₦18,000 without providing a clear explanation or breakdown. Despite requesting a schedule of payment, he alleged the bank’s officials refused to produce it.

 

“I have paid everything I was asked to pay. Now they are insisting I owe more. I’ve asked to close the account, but the Dugbe branch told me I must still write a letter to ‘update my credit status’, which I find suspicious,” he said.

 

In his petition, Adebayo urged the three regulatory agencies to step in and stop any further deductions, emphasizing that he wants no further dealings with the bank and seeks immediate account closure.

 

“I’ve exhausted all peaceful means. I want the EFCC, CBN, and PCC to use their offices to ensure my rights are protected and the deductions halted,” the petition concluded.