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KUDA Bank In Messy Missing Money Scandal

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A Kuda Microfinance bank customer has raised an alarm over sudden disappearance of her money from her account without making any withdrawal.

 

According to report gathered by the  thecolumnNG , the customer, a petty trader with the name Amajor Martha Marvelous lost her hard earned saving to the tune of almost two hundred thousand naira to Kuda microfinance bank on December 16, 2023 when an unauthorized transaction was made on her account without her consent.

 

 

In her words, “it was Saturday afternoon, I just heard my phone beeped and brought it out from my pocket. Surprisingly I got a debit alert of N199, 300.00 on my phone saying i made a transfer to one Chukwuebuka Ebereamah. I immediately dialed kuda bank’s customer care line to make complain that I didn’t make any transaction nor do I know any Chukwuebuka Ebereamah who the transaction claimed I made a transfer to. The customer care personnel said it might be an error that it will be refunded in as much as I didn’t make any transaction”

 

 

“The customer care attendant said if by Monday 18, December 2023 I didn’t get a refund I should make an official report” she added

 

 

According to Marvelous, after waiting endlessly without getting a refund, on Monday 18 she visited the bank headquarter, 151 Herbert Macaulay road, yaba, Lagos state to lodge the complain of her money disappearing from her account to one Chukwuebuka Ebereamah and she was told that the money was transferred to one Aku Microfinace bank account owned by Chukwuebuka Ebereamah with the account number 8162503500.

 

 

“I was at the office on the 18/12/2023, I got there exactly 10:23am and I was directed to the complaint desk where I met several people with one complain or the other. After waiting for hours, it got to my turn and I was attended to by one Mrs Amara who told me that my account was ‘comprised’. I also told her that few days before the fraudulent transaction I could not do any transaction on my account only to see a withdrawal of all my savings. The saddest part was for Mrs Amara to tell me that the bank does not know what happened to my account and cannot do anything.” Marvelous said.

 

 

She added “Mrs Amara told me that she has sent a mail to Aku microfinance bank that i should wait for their response but while waiting I should go and get a police report. She directed me to another staff of Kuda microfiance bank, Ayoade Abdulbasit who said I should drop my email address that I will get a response from him. The next day I got a mail from Ayoade only to be told that I should get valid court order before my money can be refunded”.

 

 

Marvelous divulged that she went on the official whatsapp number of Kuda bank to make her complain. After chatting for days on her she will get her money returned to her account, the bank on Wednesday 4, January 2024 deleted the thread of messages share with her. She added that Kuda bank has stopped responding to her email again and also deleted responses made to her as regards her complain.

Business

BINATONE Announces Special One Month Black Friday Deals!

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Global Appliances Nigeria Limited, manufacturers of Binatone products has, announced an exciting Black Friday deals.

 

The company’s Managing Director, Mr Prasun Banerjee, said the offer cut across Its Full Range of Smart Home Appliances.

“Binatone, one of Africa’s most trusted appliance brands for over 52 years, is delighted to announce its Black Friday Mega Sales offering amazing discounts across all key supermarkets and leading electronic stores nationwide” Mr Banerjee said in a statement.

The promotion will be from November 6th to december 6th, 2026.

During this period, Mr Banerjee said customers will have a full month to enjoy unbeatable prices on a wide range of Binatone products.

“From energy solutions to kitchen essentials, Binatone will bring exceptional value and innovation to every Nigerian home this festive season,” he added.

According to him, this year’s Black Friday promotions will feature exciting offers across multiple categories stressing that Shoppers can enjoy great discounts on stand fans equipped with mosquito-repellent and air-freshness features, including the newly introduced AD 1601 AC/DC Fan, which can be linked to a solar panel for clean, free air.

“The rechargeable fan range, available in three models with replaceable lithium-ion batteries, recharges in just four hours and provides up to ten hours of cooling—enough to last the whole night,” Mr Banerjee added.

For kitchen lovers, he said the KC6000 Yam Pounder/Fufu Maker promises quick, hygienic, and effortless meal preparation while the air-fryer series, available in three models, requires just a teaspoon of oil to make crispy, tasty, and healthy fries.

“Binatone’s cool-touch kettles, models CEJ 1799 and CEJ 1700T, come with elegant digital displays and are designed for safety and convenience, he added.

To protect valuable home appliances, he disclosed that Binatone’s power range offers stabilizers in 2 KVA and 5 KVA capacities and surge-voltage protectors in 13 A30 A ratings—ideal for air conditioners.

“The company’s newly launched Power Stations, available in 1.8 KVA and 2.4 KVA variants, provide portable, plug-and-play power with solar-charging capability, ensuring reliable backup power for homes, small offices, and outdoor use”

He disclosed that customers will also find irresistible discounts on Binatone’s dry and steam irons, garment steamers, and microwave ovens thar are perfect for everyday household needs.

“The breakfast-essentials range features pop-up toasters, sandwich makers, and juicers designed to make mornings easier,” he stated. He announced that the high-powered blender collection includes durable, unbreakable jugs capable of smoothly blending hard nuts and beans.

“Additionally, Binatone has introduced the Tefal Cookware Range, offering premium non-stick pots and pans for healthy cooking, along with Freeplay solar-powered lanterns and torches, ensuring every home remains bright and energy-efficient

“Binatone’s Black Friday celebration is our way of thanking loyal customers for their trust over the years,” Mr Banerjee added.

“We are bringing quality, affordability, and innovation together, thus making this season the perfect time to upgrade your home.

”All Binatone products comes with a two-year warranty, giving customers additional peace of mind and assurance of lasting quality.

“Don’t miss these amazing Black Friday offers, available for a limited time at all major supermarkets, electronic stores, and online platforms across,” he stated.

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Wema Bank’s Top 21 Hackaholics 7.0 Grand Finale Finalists Emerge

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Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, has unveiled the Top 21 finalists for Hackaholics 7.0, who will compete at the grand finale scheduled for Friday, November 6, 2026, in Lagos. Themed Festival of the Future, the grand finale will bring together innovators, technology leaders, startup founders, investors and key players in Nigeria’s innovation ecosystem for an immersive celebration of ideas, technology and the possibilities shaping the future.

 

The Top 21 finalists are: Dynalimb, Harthiq, Acceede, Vhorde, URI, Trarrk, SocialSign, RaverPay, All-Arbitrates, CitizensGage, Craft-Planet, FOID, PayByPalm, Niteonn, Nexa-AI, Neural-Forge, MamaAlert, JolliFlow, Becca, CropiQ and Middleman.

Hackaholics is Wema Bank’s youth and start-up-focused initiative, designed to provide young innovators with a platform to transform creative, technology-driven ideas into practical solutions to real-world challenges and gain a competitive edge in the global technology and digital space. Since its launch in 2019, the initiative has recorded over 21,000 applicants, engaged more than 50,000 participants, supported over 10,000 startups across three countries and developed more than 100 solutions from scratch.

The 7th edition, which commenced on July 1, 2026, attracted 5,329 participants and generated 1,632 innovative ideas and solutions across seven pitch-centre locations: Uyo, Kano, YabaTech, Benin, Ibadan, Enugu and Lagos. Following the nationwide tour, 59 participants emerged from the various centres, with the Top 21 selected through a rigorous, multi-stage evaluation process.

The Hackaholics 7.0 grand finale week will feature a three-day programme of strategic engagement and innovation-focused activities. On Wednesday, November 4, the finalists will participate in the Pre-Pitch, where they will present refined versions of their solutions. This will be followed by the Ecosystem Tour on Thursday, November 5, powered by Wema Bank, offering participants the opportunity to visit leading institutions within the technology and innovation ecosystem, interact with industry professionals and gain practical insights ahead of the final competition. The programme will culminate in the grand finale on Friday, November 6, where outstanding innovators will be recognised and celebrated.

Through Hackaholics, Wema Bank continues to demonstrate its commitment to advancing Nigeria’s innovation ecosystem by identifying emerging talent, creating opportunities for young innovators and supporting the development of solutions to real-world challenges. The initiative reinforces the Bank’s role in empowering the next generation of innovators and building an ecosystem where ideas can thrive and possibilities become reality.

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Sanusi Warns FG Against Spending Without Restraint

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Emir of Kano, Alhaji Muhammadu Sanusi II, has implied that the Federal government may not be able to achieve it’s economic reform dream if it maintains it’s present expenditure rate, declaring that Nigeria could not pursue fiscal consolidation while continuing to spend without restraint.

 

Speaking virtually to the audience at the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tank, on Tuesday, the monarch said reform must go beyond removing fuel subsidies and liberalising the exchange rate, describing it as a comprehensive package that needed to address many other areas.

He said government needed to make clear spending priorities, choosing between roads, electricity, agriculture, and technology based on available resources.

The Emir also raised concerns about the size of government expenditure, saying Nigeria could not pursue fiscal consolidation while continuing to spend without restraint.

He said the World Bank had pointed out that in the first half of this year Nigeria’s debt service consumed 124 per cent of federal government revenue.

Sanusi warned that the country needed to urgently address the sustainability of its debt and pursue structural reforms that had not yet been made.

The former CBN boss said every $10 billion spent on roads was $10 billion taken away from electricity and agriculture, stressing the need for deliberate choices.

Sanusi acknowledged that Tinubu’s economic reforms had produced measurable progress, citing improvements in GDP growth, inflation, and foreign reserves.

He said GDP growth has risen from an average of 0.9 per cent under the previous administration to 4.5 per cent, describing the change as progress that deserved recognition.

“I think moving from an average growth rate of 0.9 per cent to 4.5 per cent is progress. Moving from inflation of over 30 per cent to 14.5 per cent is progress.”

“Moving from the point where in 2023 the central bank’s reserves were maybe negative to where we are now having reserves of $55 billion is progress.”

He, however, stressed that issues such as poverty, hunger, maternal mortality, malnutrition, education and healthcare remained serious concerns that the reforms has not yet addressed.

Sanusi said the government should have designed social safety net policies to soften the impact of reforms on vulnerable Nigerians from the beginning.

The former CBN boss also advised the government to tolerate constructive criticism,warning the Federal Government against treating every comment about it’s workings as an attack on President Bola Tinubu.

“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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