Equity Bank in a pickle again as another customer loses Shs. 10 million

The bank through Tuesday and Wednesday took heat from the public for its handling of the case of one Farook Ssekandi, who accused the bank of “stealing” Shs 10 million from his account.

Ssekandi after failing to get recourse from the financial institution, stormed the Bank’s Head Offices on Kampala Road, where he filmed himself being avoided by the bank employees.

In the video that went viral on Tuesday, he said he was only given a bank security employee to assist him when he asked about the disappearance of his money. The rest if the staff vanished from their desks.

“I am here crying for my money but there isn't anyone to help,” Ssekandi said, as he panned his camera to show empty seats on the counters.

“There is another customer here who also lost Shs 1.5 million…but when they are courting us to open accounts with them they speak nicely. They are now all running away from me.” 

The complainant, who claims to hold an account with the Kireka Branch, did not provide further details about how he lost his money.

Equity Bank, in a statement on Wednesday morning, acknowledged Ssekandi’s situation but suggested that his account was likely compromised after he lost his mobile phone. 

“Whereas we are bound by the client confidentiality rule and therefore cannot disclose customer interactions in the media, we wish to reiterate our message to all our customers that in the event of loss of their phone, they should immediately report to the bank through our 24/7 customer helpline 0312 327000,” the bank revealed in a statement.

“We are engaging and supporting the affected customer as well as working with the relevant authorities to resolve this matter as quickly as possible.”

Ssekandi is one of many other customers who have come out to claim losing funds with the Kenyan-based bank.

One Edith Nakacwa, a student and businesswoman, said Shs. 21 million was withdrawn from her account under unclear circumstances back in 2021.

She said tried for months but did not get help from the bank until she went to the press.

In February this year, another customer Rose Ahebwa said all her money totalling Shs 47 million was withdrawn shortly after she opened an account with Equity.

A few months earlier, another customer Angella Namatovu, a councillor in Kajjansi, also went public about Shs 5 million, which vanished from her account.