Youths Shun FCMB After Bank Mandated Staff To Treat Them As Fraud Suspects

Youths Shun FCMB After Bank Mandated Staff To Treat Them As Fraud Suspects

Nigerian youths are abandoning FCMB in droves after a letter from the bank ordering its employees to treat young Nigerians as fraud suspects was published online.

iexclusive News Nigerian reports that youths are abandoning First City Monument Bank (FCMB) and cancelling their accounts in large numbers after a letter from the bank ordering its employees to regard people under the age of 18 as fraud suspects was published online.

The FCMB letter, according to iexclusive News Nigeria, has nothing to do with the Central Bank of Nigeria’s ban on bitcoin.

In the letter, the bank instructed employees to question customers and notify compliance anytime they detect an account with a large volume of transactions and individuals between the ages of 18 and 30 as signatories.

Other account types with similarly discriminatory guidelines include youth savings accounts, business savings accounts, personal business accounts, amongst others.

The bank did not define what constitutes a high volume of transactions, but the account types listed captured all of its available packages for Nigerian youths.

As a result, the teenagers have issued a call to action against the bank, and they are actively mobilizing to close all of the bank’s accounts.

According to a current Twitter hashtag, some young people are calling for the bank’s mobile app to be removed from the Play Store because of its poor rating, much like they did with Crowwe.