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[Video] Customers of Polaris bank panic over technical shutdown

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Several customers of Polaris Bank are in fear as technical challenges mar banking operations in the financial institution.

According to information reaching TheNewsGuru,TNG most of the disturbed customers have been unable to make withdrawals from their accounts for over 48 hours.

One of the affected persons, who identified himself to TNG as Micheal [Surname withheld], lamented that both his business and personal upkeep as suffered as a result of the partial shutdown of operations in Polaris.

Micheal who visited the Polaris branch in Ikorodu area of Lagos to make withdrawals on Tuesday said: “I have not been feeding well, I only came here two days ago and was told there was a challenge with network. However, when I came here today, I was shocked as the problem persisted”

“We have been here for hours, sitting down for nothing. My biggest fear came when my account manager confided in me that I should be prayerful. He [account manager] said the bank is having financial crisis due to an ongoing battle with one of the former top directors of the bank over misappropriation of funds.

Meanwhile, the management of Polaris bank has issued a statement apologising to its  customers on the crisis at hand.

The statement reads, ” Dear Esteemed Customer,We wish to inform you that we are experiencing service disruptions on some of our platforms as a result of system maintenance which has lingered beyond the expected time.

Whilst our technical teams are working hard to restore services across affected platforms, our branches will continue to attend to customers.

We apologise for the inconveniences and assure you that the situation will soon be normalised. Thanks for your understanding.

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Recall that in pursuant to section 38(1)(c) and 39(1) of the Nigerian Deposit Insurance Corporation Act No. 16 of 2006 (NDIC Act) and by a Purchase and Assumption Agreement dated 21st day of September, 2018, Polaris Bank Limited as a bridge bank, has assumed all the deposit liabilities and certain other liabilities and has had vested in it, all the assets of Skye Bank Plc effective from the 21st day of September, 2018.

By this notice, this to a large extent allays fears that Polaris bank is undergoing any financial crisis, as it is now fully capitalised and has the support of both the Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation.

Other reactions from affected customers:

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