The Managing Director of Emense Technology, Kayode Awotile, alleges Fidelity Bank fraudulently deducted N1.98 million from his company’s account and has refused to reverse it despite formal complaints, police, and legal interventions
[dropcap]K[/dropcap]ayode Awotile, Managing Director of Emense Technology, has accused Fidelity Bank Plc of fraudulently deducting N1.98 million from his company’s account and subsequently refusing to reverse the transaction.
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Awotile claims this occurred despite numerous formal complaints, a police invitation, and legal intervention.
Speaking to FIJ, Awotile detailed the incident, which he says took place on November 18, 2024, leaving him and his company in distress.
He suspects the deduction is part of a “well-coordinated scheme,” particularly since Fidelity Bank allegedly failed to acknowledge or stamp a cheque he had previously issued to a client.
Awotile recounted that the issue began after he issued a cheque to a client’s Fidelity Bank account. While waiting for the cheque to clear, he consistently checked his account balance.
By 5 pm that day, the funds had still not been debited. However, by 8 pm, he began receiving a flurry of debit alerts.
“Before I could reach Fidelity Bank’s customer service to stop the deductions, N1,980,000 had already been withdrawn through point-of-sale transactions,” Awotile recalled.
Before I could reach Fidelity Bank’s customer service to stop the deductions, N1,980,000 had already been withdrawn through point-of-sale transactions.
Upon visiting his Fidelity Bank branch at International Airport Road the following morning, November 19, 2024, Awotile says he was met with “inconsistent stories” from staff and management.
Excuses ranged from his account lacking an account officer to claims that the card he possessed was not the one used for the transactions.
He also questioned why his cheque was not confirmed or stamped, receiving only “excuses” in response.
To recover his money, a frustrated Awotile engaged his lawyer and reported the matter to the police. However, he alleges that the bank failed to honor the police’s invitation.
“Although they partially admitted fault and said they would do the needful, they haven’t. This has caused business embarrassment and operational difficulties. At some point, it seemed they knew and admitted they were culpable,” he said.
Awotile further stated that even when his client presented the cheque, the bank refused to stamp it as received, while his account balance remained intact.
He continued to follow up on the cheque clearance, but was repeatedly told that the International Airport Road branch had not responded.
FIJ, who reported the story, emailed Fidelity Bank on May 21, 2025, regarding Awotile’s missing funds.
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A respondent from the bank requested to communicate directly with Awotile, advising him to “revert with a written explanation of what happened to his card via email or visit any Fidelity Bank branch close to him for further assistance.”
Peculiar Adirika is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
