FIJ intervention clears Lagos customer’s nearly four-year Kuda bank overdraft

A Lagos resident, Akpan, had a nearly four-year battle with Kuda Bank over a ballooning overdraft resolved after FIJ’s intervention, clearing a N164,000 balance

[dropcap]A[/dropcap] Lagos resident, Akpan, has finally found relief from a ballooning overdraft with Kuda Bank that had persisted for nearly four years, following the intervention of the Foundation for Investigative Journalism (FIJ).

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The long-awaited resolution came on Monday, May 26, 2025, just 24 hours after FIJ published a story detailing how Kuda Bank allegedly failed to honor its promise to clear Akpan’s debt after he made a discounted repayment.

A grateful Akpan confirmed the development to FIJ, stating that the bank notified him on Monday morning that the issue was being addressed and would be resolved by Friday.

On Monday, I received an email from Kuda Bank which I didn’t understand. But when I checked my account, the bank had reset the outstanding N164,000 loan to zero. So, they cleared the overdraft as of yesterday. Thank you very much, FIJ.

“On Monday, I received an email from Kuda Bank which I didn’t understand. But when I checked my account, the bank had reset the outstanding N164,000 loan to zero. So, they cleared the overdraft as of yesterday. Thank you very much, FIJ,” Akpan told the platform.

FIJ had reported on Sunday, May 25, 2025, that Akpan initially took an overdraft of N50,000 from Kuda Bank in 2021.

Due to financial difficulties, he was unable to repay it on time, causing the debt to swell to N256,000 by March 2025 due to accumulated interest.

According to Akpan, Kuda Bank emailed him a repayment offer in March, promising to clear his entire loan if he paid N100,050.

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However, after Akpan made the payment, the bank only deducted the amount paid, leaving him with an uncleared balance of N164,000. The issue remained unresolved for weeks until FIJ’s intervention prompted the bank to act.