Diamond Bank Plc says the Central Bank of Nigeria and the Economic and Financial Services Commission have frozen the bank accounts of Cashflowabi Cooperative Society and Cashflowabi Networks Limited for allegedly operating as fund managers without operating licences.
It said the directive to freeze their banks accounts with Diamond Bank came on the heels of a court order obtained by the EFCC in November 2012.
In a statement on Tuesday, Diamond Bank made the clarification following complaints that some of the fund managers’ customers besieged some of its branches, demanding for their funds.
The customers were said to have protested at some branches of Diamond Bank across the country.
However, Diamond Bank maintained the aggrieved protesters were customers of the fund managers.