A growing dispute between a Nigerian entrepreneur and Access Bank Plc has drawn attention to concerns over loan management, customer transparency and access to financial records within the banking sector. The disagreement centres on an asset finance facility obtained by a manufacturing business and the subsequent handling of the loan account.
The Managing Director of Eleo Trust Enterprises, Dr. Lydia Okodogbe, has appealed to the Central Bank of Nigeria (CBN) and other regulatory authorities to intervene in the matter, alleging that unresolved issues surrounding her loan account contributed to the shutdown of business operations and significant employment losses.
Brandspur Banking News Desk reports that Okodogbe claimed repeated requests for a detailed statement of her loan account were not fulfilled, making it difficult for her company to verify repayments and reconcile the outstanding balance being claimed by the lender. According to her, the facility was secured in 2020 under an asset finance arrangement used to support the acquisition of industrial equipment for her business.
The entrepreneur further alleged that discrepancies discovered during her review of account records raised concerns about additional loan entries and transactions she said required clarification. She maintained that efforts to resolve the matter through correspondence, meetings and settlement discussions did not produce a mutually acceptable outcome.
Okodogbe said restrictions placed on company accounts limited access to working capital and financing opportunities, leading to operational challenges that eventually affected production activities. She claimed the business, which previously employed hundreds of workers, was forced to scale down significantly as a result of the dispute.
Responding to the allegations, Access Bank stated that the account restrictions were linked to outstanding obligations associated with the loan facility. The bank acknowledged communication challenges during the management of the account and attributed some of the difficulties to changes in personnel handling the relationship.
The financial institution also maintained that no additional restructuring arrangement had been formally approved beyond existing agreements and said efforts were ongoing to update relevant records while addressing outstanding concerns raised by the customer.
Industry analysts note that disputes involving loan facilities often highlight the importance of transparent communication, accurate record-keeping and timely access to account information. The outcome of the matter could attract regulatory attention as authorities continue efforts to strengthen consumer protection and confidence in Nigeria’s banking system.
