Moniepoint Denies Role in Customer's Arrest Over Tax Critique

Moniepoint Microfin Bank issued a statement on February 18, denying any involvement in the arrest of Adebayo Oluwafemi, who allegedly criticized the bank's service and tax policies. The bank clarified that it does not suppress public criticism and respects the rights of Nigerians to express their opinions.

The controversy arose following a viral video that reported Oluwafemi's arrest by the Nigeria Police Force, which was said to be linked to a complaint regarding a controversial 7.5% Value Added Tax (VAT) imposed on bank services starting January. Oluwafemi was reportedly detained for nine days, during which his mobile phone was confiscated for forensic analysis.

Moniepoint urged the public not to attribute the police's actions to the bank and reaffirmed its commitment to transparency and compliance with Nigeria's legal framework. The bank continues to engage with customers to improve its services and products.