Tobiloba Hamilton-Scott, a Nigerian masters student of International Business at Ulster University, United Kingdom (UK), said Polaris bank is withholding his N1 million upkeep and maintenance fund.
The student told WikkiTimes he applied for the fund through Form A on July 27, 2022, but would not be debited until November 4.
‘Form A’ is an application form designed by Central Bank of Nigeria to pay for service transactions (invisible trade) that allows customers to make payment for services such as school fees, technical fees, dividends, airline tickets, loans repayment and judgment debt among others, according to data obtained from First Bank’s website.
The 32-year-old student said the fund, supposedly, should help him finish his program on time.
“I applied for maintenance/upkeep through ‘Form A’ on July 27, 2022,” he said. “The first stage of the transaction was approved on 2nd August 2022. I was debited for the FX (foreign exchange) transaction on November 4, 2022. Till this moment, I have not received the FX or my debited naira.”
Hamilton-Scott said the bank noted that his admission letter with the school had expired and instructed him to get a proof from the institution to confirm his studentship. According to him, all the processes were followed, but his money is still hanging.
“I started worrying one week after the money wasn’t refunded to me either in naira or in FX,” he told WikkiTimes. “When I lodged a complaint to the customer care, I was told my admission letter had expired. I have to get a signed letter from my school to show I have not graduated yet so that I can get my funds. But after all the efforts, the bank still failed to rectify the problem.”
“On November 21, I still filed a complaint through customer service (yes center) so it can be resolved. But all efforts to no avail,” Hamilton-Scot added, urging the bank to pay him either in FX or naira.
As of press time, an inquiry sent to Polaris Bank had not been responded to.