Nigerians are increasingly beginning to exercise their rights against any company that makes life less interesting for them. Now, Two of Nigeria’s largest banks, Access Bank and Zenith Bank, are at the centre of major lawsuits, as frustrated customers take direct action over alleged negligence and data misuse.
Customers Sue Access Bank Over IT Failures
In the first case, six plaintiffs have filed a class action lawsuit against Access Bank at the Federal High Court in Lagos, representing millions of customers who suffered from a devastating IT failure in August 2024.
Since the system crash locked account holders out of their funds for over a week, many struggled to pay school fees, medical bills, and business expenses.
Consequently, they endured distress and harassment from creditors.
Furthermore, the lawsuit demands ₦420 billion in damages, arguing that Access Bank neglected its contractual obligations and violated consumer protection laws.
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Zenith Bank Accused Of Data Misuse
Meanwhile, Zenith Bank faces a separate lawsuit over its alleged misuse of customer data.
Moyosola Okeremi, representing 33 million customers, asserts that Zenith Bank deliberately repurposed personal data collected under CBN’s “Know Your Customer” (KYC) rules.
Between July and August 2024, the bank bombarded customers with unsolicited marketing messages promoting its public share offerings.
By doing so, Zenith Bank allegedly disregarded Nigeria’s data protection laws, prompting the lawsuit to call for stricter enforcement against privacy violations.
A Turning Point For Consumer Rights?
Ultimately, these lawsuits could reshape Nigeria’s financial sector by compelling banks to improve service reliability and respect data privacy.
As digital banking expands, the outcomes of these lawsuits may redefine customer rights in an increasingly tech-driven financial landscape.
