Showing posts with label Special Control Unit Against Money Laundering (SCUML) Certificate. Show all posts
Showing posts with label Special Control Unit Against Money Laundering (SCUML) Certificate. Show all posts

Friday, September 2, 2022

Nigeria’s Dysfunctional Banks

 By Sonnie Ekwowusi

On a Thursday I went to one of the branches of a Bank to carry out a transaction on one of the accounts of our law firm. This particular account was opened about 17 years. And since the opening of the account, our law firm has been successfully operating without any hitches or hiccups. 

But this day after presenting my cheque at the counter, I was informed that “Sir, this account needs reactivation.” “Why the reactivation?” I queried. “Because it has been rendered dormant. It is no longer active,” the lady responded. What will I do to reactivate it? She pulled out a sheet of paper containing some bank requirements and said: “Sir, these are the requirements for reopening the account.