Over 1.4million customers of Kuda Microfinance Bank, are currently thrown into confusion after they were locked out of their accounts.
BUSINESSINSIDERNG, gathered that the bank did not explain the reason for the alleged glitch, but some customers said their accounts were also deactivated.
It was gathered that Kuda Bank has been in the news recently for the wrong reasons after some reported that they were unable to use their debit cards
Social media reports show most Kuda Bank users lamenting that they can either not log in or have access to their accounts.
According to them, they woke up and tried to log in to their various accounts but couldn’t.
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The bank did not provide a reason for the action, but some say it might be a glitch. The action is not the first time Kuda bank has been in the news for the wrong reasons. The bank, August, reportedly encountered a glitch which made users unable to use their debit cards for extended periods.
Many said they were prompted to update their app after which they were unable to use their accounts.
The development led many to threaten to shut down their accounts permanently. The bank, which reported a loss a few months ago, has given conventional banks a chase for their money.
However, Kuda Bank is branchless, meaning it has no physical structures, nowhere to physically go and lay complaints if anything goes amiss. But it has not deterred Nigerians, especially the youths from operating an account with it.
As of the last count, the bank has amassed over 1.4 million customers since it came on stream in 2017, five years ago.
