By Empress Blessing
A Lagos-based businessman, Mr. Remi Ogunmefun, has raised alarm over the disappearance of ₦1 million following a failed electricity payment at Ikeja Electric’s Ogudu Office, alleging that Access Bank, UBA, and Ikeja Electric are shifting responsibility for the missing funds.
According to Ogunmefun, the incident occurred on October 10, 2025, at 10:01 a.m., at Ikeja Electric’s District 7, Oluwa Road, Ogudu office. He said he attempted to load ₦1 million on his company’s prepaid meter using an Access Bank Visa Debit Card (ending 4340). The POS transaction, handled by UBA, was declined for exceeding withdrawal limits, and a slip confirming the failed attempt was issued.
However, later that same day, Ogunmefun’s Access Bank account was debited for the ₦1 million despite no credit being received on the electricity card.
He immediately contacted Access Bank Customer Service, attaching both the declined POS slip and proof of debit. On October 12, Access Bank responded, requesting that he sign an indemnity form and assuring him that a refund would be processed within 3–5 business days.
When no refund came, Ogunmefun sent a follow-up email on October 16, copying Mr. Roosevelt Ogbonna, Managing Director of Access Bank. Ogbonna replied the following day, October 17, copying senior officials Njideka Esomoju, Yewande Shoneye-Vaughn, Ebi Okosun, and Omobola Faleye, stating: “My colleagues copied will take this up and review same ASAP.”
But on the evening of October 19, Ogunmefun received a call from Access Bank’s customer service team, who informed him that while the transaction had “actually gone through,” the partner bank UBA claimed that Ikeja Electric was refusing to refund the funds. UBA, therefore, declined to return the money to Access Bank, leaving the customer stranded.
Expressing his frustration, Ogunmefun said he decided to make his experience public to expose what he described as “the disturbing reality of Nigeria’s banking system.” He vowed to pursue the matter until his ₦1 million is refunded.
Neither Access Bank, UBA, nor Ikeja Electric Plc had issued an official statement on the matter as of press time.