The United Bank for Africa (UBA) have refunded a total sum of N106,309,534.87 to an overseas-based customer, Ibhahe Hope Ehieribo, whose account was emptied after some individuals falsely declared him dead with certificate to prove it.

According to sources, the bank was approached by unknown persons who presented documents claiming the account holder had passed away and had already been buried. Acting on this fraudulent claim, the bank reportedly transferred over N100 million from the customer’s savings account into a newly opened estate account.

The customer, who is very much alive, contested the action and, after intense scrutiny and advocacy, received part refund of the misappropriated funds.

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While the return of the funds is a significant relief, there are mounting calls for accountability. Advocates for the client and members of the public are demanding transparency from UBA and an internal investigation to identify how such a breach could occur within a regulated financial institution.

“There must be an explanation for how such documentation was accepted without due diligence. Were bank staff involved? The bank needs to tell us,” a representative for the client said.