Zenith Bank branches sealed as customers lament app shut-down

The court had directed Zenith Bank to settle entitlements, totalling N1.9 billion

Zenith Bank is one of Nigeria's lenders abroad (Reuters)

Police officers on Thursday, May 02, 2022, morning sealed Zenith Bank branches in Owerri, Imo State, over a litigation involving a former Deputy-Governor of Imo state, Eze Madumere.

According to reports, the development left staff and customers of the bank stranded.

A Garnishee Order by the National Industrial Court (NIC) in Owerri had given the police the go-ahead to seal the banks. The court had directed Zenith Bank to settle Madumere’s entitlements, totalling N1.9 billion.

Meanwhile several customers of the bank have complained about the shut-down of the app since May 29.

A lady, simply identified as Ruth, was stuck in an embarrassing payment situation due to the abrupt shut-down of the banking app.

Adaeze also lamented frustrations using the bank's customer service and mobile application.

The app's shut-down, resulting in customer's inability to make payments, made this customer look fraudulent to his affiliates.

Meanwhile, last month was described as the most brutal month in the tech industry as over 15,000 workers had to be laid off due to inflation and revenue slowdown.

A report by BeInCrypto, a media platform that specialises in cryptographic technology, privacy, fintech, and the Internet, states that a total of 15,764 tech employees lost their jobs in May.

According to the report, many of the workers who lost their jobs worked in crypto and fintech.

In a bid to adjust to the worsening economic climate around the world, Bitso, Mexico’s largest crypto exchange cut down its employees from 800 to 720 last month.

Similarly, an Argentinian crypto exchange, Buenbit terminated the employment of about 80 staff members in May.

The recent wave of job loss in the tech industry did not exclude Netflix employees. On Tuesday, May 17, 2022, the video streaming company announced the dismissal of about 150 staffers.

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