HOW UNITY BANK DEFRAUDED STEPEX GLOBAL SERVICES LIMITED OF OVER N57,000,000.00 (FIFTY SEVEN MILLION NAIRA) THROUGH AN OVERDRAFT SCAM

HOW UNITY BANK DEFRAUDED STEPEX GLOBAL SERVICES LIMITED OF OVER N57,000,000.00 (FIFTY SEVEN MILLION NAIRA)  THROUGH AN OVERDRAFT SCAM
A forensic accounting firm known as Financial Forensics Services has alerted the public of how Unity bank plc stole over N57million from one of its client.in a press release,the organization said that It is no longer news that our banks are robbing their customers but the rate at which they do it today is becoming very alarming, the Central Bank of Nigeria recently stated that it has recovered over N6 billion excess, hidden and illegal bank charges from our commercial banks following various customers complaints and petition to it within the past 48 months. But this amount is so minute when compared to the actual amount that our banks siphon from its innocent customer daily. It is also true that over eighty-five percent (85%) of all loans given to borrowers by our banks are abused and manipulated which is one of the major reasons why many Nigerians find it difficult to pay back  bank loans, this is exactly what happened to Stepex Global Services Limited. The company approached Unity Bank for a N20 million naira overdraft without knowing that it was digging its own grave. Immediately this overdraft was agreed, Unity Bank began to debit the company’s account, when it seems like the loan has ended Unity Bank will come up with another story just to continue debiting the company’s account until recently that the account was reconciled.
After reconciliation, it was discovered that Unity Bank has collected over N90 million naira  as repayment on an original loan of N20 million naira, it was also discover that Unity Bank has taken illegal, hidden and excess bank charges of N57,447,210.32 from the company’s account as its  detailed below.

S/NNarration Amount    
1Excess/Multiple Cost Of Search Report          62,500.00    
2Unknown/Multiple Lending Fees Of 2013         400,000.00    
3Unknown 2% Charge On TOD Of 18/03/2014         400,000.00    
4Unknown Cost Of Fuel For Official Vehicle            8,300.00    
5Unknown Cost Of Confirmation Letter            3,000.00    
6Unauthorized Charge On Cash Deposit         153,015.00    
7Unknown Premature Settlement Debit       1,943,204.56    
8Un-agreed  Credit Portfolio Monitoring Debit           13,000.00    
9Excess Overdraft Debit      18,861,330.99    
10Excess Vat Debit           65,538.05    
11Unauthorized /Outrageous Account Maintenance Debit       2,221,656.44    
12Unknown E-Pro Debit              850.00    
13Illegal Penalty Debit       4,368,169.70    
14Unauthorized/Excess Quarterly Mgt Fee       2,400,000.00    
15Excess Lending Fee On Restructured Loan       2,152,762.61    
16Excess Processing Fee       1,484,329.65    
17Excess Maturing Loan Installments       8,982,956.88    
18Total      43,520,613.88    
19Accrued Interest At 32% That Was Applied By The Bank      13,926,596.44    
20Total Refundable By Unity Bank To Stepex Global Services Limited      N57,447,210.32  

This shocking discovery was served on the bank in July 2018 (see acknowledged copy).
The bank after receiving the reconciliation report kept quiet, prompting a reminder letter was sent to it on 24th August 2018 (see acknowledge copy) yet the bank did nothing until the matter was reported to the Central Bank of Nigeria which then mandated the bank to address the matter within two weeks which the bank failed to do until reminders were sent to the Central Bank of Nigeria again (see reminder). Unity Bank finally came up with an un-signed mails admitting that they were actually stealing from the company’s account and the all it stole was N1,094,927.43 (which is a joke as what the bank actually stole from the company as narrated earlier was over N57,000,000.00) but refused to sign the document for obvious reasons, but the greatest revelation of their response was an attachment containing various overdraft offer letters which the bank cooked up within itself which the account owners were not aware of before now. How can a bank be granting an un-solicited loan to its customer, how can a company be granted loan without a mandate requesting for such loans.
The overdraft  document, CBN rules and the banks own account statement clearly shows how Unity Bank deliberately turned a simple loan  transaction into a bottomless pit and has almost liquidated this innocent company for no just cause.  
Unity Bank is yet to sign and send their official response to this issue as we speak despite reminders to do so (see sent reminders), we therefore want the public to be vigilant and beware of the kind of Voodoo and Predatory banking services that the entity called Unity Bank has been rendering to its unsuspecting customers as we are sure that thousands of Nigerians out there are going through the same predicament that our client went through in the hands of Unity bank.The organization also named Unity bank as a very fraudulent and callous organization that every right thinking person should stay away from