Aggrieved customers of Jaiz Bank on Monday staged a protest at the bank’s premises along Ahmadu Bello Way, Jos, Plateau State, demanding the recovery of funds they claim were trapped in an alleged failed investment scheme.
The protesters, who besieged the bank premises with placards, said they had been subjected to severe financial hardship following their inability to access millions of naira invested in the scheme.
Some of the affected customers explained that they were attracted to the investment because of their desire to earn money in accordance with Islamic financial principles, which prohibit interest-based transactions.
One of the protesters said he followed the bank’s procedures before investing, adding that he mobilised funds from family members, including his mother and wife, to participate in the investment.
He expressed disappointment over the development, saying he never imagined that funds entrusted to the investment arrangement would become inaccessible.
Another aggrieved customer disclosed that she initially thought she was the only victim until she visited the State Criminal Investigation Department (CID), where she discovered that several other individuals had been affected.
She further lamented that the situation had also affected vulnerable people, including orphans and widows, some of whom had invested their savings in the scheme.
However, responding to the allegations, the bank’s legal representative expressed surprise over the protest, insisting that the matter was already before a court of competent jurisdiction.
He maintained that funds deposited through the bank’s official channels and in accordance with established procedures were safe and attracted the appropriate returns on investment.
According to him, the bank cannot be held responsible for transactions conducted outside its recognised banking procedures, particularly those allegedly carried out privately with a staff member outside official banking hours.
The legal representative also disclosed that the police had investigated the matter, adding that the investigation report was available for interested parties to examine.
As the dispute remains unresolved, the affected customers are calling on relevant authorities to intervene and ensure the recovery of their funds, while the bank maintains that the matter should be addressed through the ongoing judicial process.
