How UBA ‘Ended’ Man’s Promising Future By ‘Eating’ His Huge Money

United Bank for Africa (UBA) has been fingered by a man, identified as Innocent Anyaka of holding on to his millions of Naira since the past 39 years.

Brandnewsday reports that Anyaka alledged UBA to have held his money in their possession despite all his effort to recover his resources.

The accuser claimed this have happened in 1982, and till date, the issue of the money couldn’t be resolved.

How UBA ‘Ended’ Man’s Promising Future By ‘Eating’ His Huge Money

In July 1981, Anyaka had established a trade link with Khran Chenie Gram, a pharmaceutical company based in Hamburg, Germany, and following a few successful dealings, he was set to up his game with the importation of 5,000 capsules of tetracycline, and 10,000 tabs of ferrous sulphate and gluconate.

According to the Foundation for Investigative Journalism, ”the 71-year-old deposited the sum of N200,000 into UBA for onward conversion to Deutsche Mark and transfer to the German company’s account. But the bank failed to remit DM14, 500 (N3,393,891million at the current exchange rate) of the converted amount and would not refund the creditor.

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”After the bank refused to reply to letters requesting the refund of his money, Anyaka wrote through a solicitor, Barrister Esom Casmir, and subsequently, UBA said the money was with the Central Bank of Nigeria (CBN) and promised to get a refund across as soon as possible.

”Exchange of words and letters continued among the parties involved for several years.”

In a letter dated August 30, 1994, the German company, Khran Chenie, reminded UBA that a certain amount of money meant for the company was yet unremitted. It appealed to the bank to render any possible assistance.

The pharmaceutical company had, as a result of the delay, held on to the sum of DM 21, 000 (N4,915,291 million) it owed Anyaka’s company, putting the business on the verge of collapse.

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“The UBA destroyed my future,” Anyaka stated.

“When they ceased that money, I had nothing left to trade.”

In February 2019, Vitalis Ekwem, one of the creditor’s lawyers, hinted that UBA’s blunt refusal to address previous letters from his client after receiving and acknowledging them was a “ploy to hinge on ‘Limitation Period.’”

What this means in the legal jargon,

The limitation period runs from the day the claim arises, that is, when the obligation becomes due. Limitation periods vary according to the subject matter of the claim and range from one to ten years. Limitation periods start running from the date that a claim becomes actionable

However, whatever is reported outside the time-frame stands the risk of not getting the court’s attention.

In a similar vein, Anyaka disclosed that despite several of his petitions to the Central Bank of Nigeria (CBN), the got nothing in return from the apex bank.

Speaking further, the man claimed that the UBA has also withheld millions of Nigerians’ money, between the time as died due to the cause.

“This is something they have done to so many people. Some of them died while trying to reclaim their money and UBA ‘ate’ it. Please, help me,” he added.