Sterling Bank and Diamond Bank, the two financial institutions said to have been torched by a mob protesting the killing of a tanker driver by a policeman have announced indifinite closure of the branches affected
It would be recalled that on Wednesday, a policeman, who allegedly shot and killed a tanker driver over non payment of parking fee ran into the Diamond Bank and later escaped to Sterling Bank on Creek Road, leading to damaging of the two bank branches by an irate mob.
But in seperate reactions on Friday, managements of the banks announced that the affteded branches will remain shut, pending conclusion of investigations of the crisis.
In a statement, Head, Corporate Communications, Chioma Afe, said there was a fire incident as a result of the mob action, which had caused some collateral damage on the bank’s building and its facilities.
She further stated that the bank was still assessing the volume of damage and in collaboration with the regulators and the police.
“We had a fire incident at our branch office on Creek Road, Apapa which severely damaged branch infrastructure as a result of mob action.
“The situation is under control, we are working with the Nigeria Police Force and other law enforcement agencies to investigate actions leading to the fire incident.
“While these investigations are ongoing, the branch will be closed to customers for their safety and to allow for completion of all repairs”, she stated.
The Sterling Bank spokesman, Kunle Odusanya, in his comments said the affected branch would not be reopened until a thorough investigation is carried out.
“The damage went beyond the bank’s properties and other facilities, the customers’ money was looted by the mob and until the conclusion of the investigation, it would be difficult ascertaining the volume of losses suffered.
“Even if we want to resume our normal business activities in the branch, the fact that the law enforcement agencies are still investigating the matter, we shall give them time to finish their work”.
When contacted, an official of Nigeria Deposit Insurance Corporation (NDIC) said the Investigation and Evaluation unit of the corporation had been drafted to work with the police in determining the volume of losses suffered by the two affected banks.
The official said: “The only bank money that is covered by the Act establishing NDIC is those already recorded and transmitted to the appropriate offices at close of daily transactions, meaning that over-the-counter cash falls are outside the range of coverrage by the Inurance policy.”
RipplesNigeria ….without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: Inside UNILAG’s multi-million naira budgetary abuse and academic discord
The University of Lagos located in Nigeria’s commercial capital, Lagos, has been embroiled in controversies with allegations bothering on misappropriation of...
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...