Aremson the Vet

Many people have told me to name the bank, trust me, I have strong reasons to do so. This particular bank has been a terrible business partner to us at Nord for many years (see attached a mail to their COO in 2022). We cut most ties with them in early 2023, using them only for minor transactions. Earlier this year, in April, they unilaterally debited 700 million NGN from our account without any court order. We didn’t borrow money from them. They claimed that the LC we took in 2022, which was fully paid at the prevailing exchange rate of about 430 to 480 NGN offered to us by the same bank, was no longer valid, and that we now had to pay at over 1,600 NGN, for transactions that we had longed closed and sold the vehicles at prices that reflect the 430 NGN to 480 NGN official exchange rate. They argued that they didn’t receive the LC USD from the CBN and that we somehow owed them. We immediately agreed to take the matter to court. While the case is ongoing, the bank illegally debited 700 million NGN from our account without notice. The ambush was unbelievably unethical. We are currently in court over this matter. I know justice can be slow, but I am committed to fighting this battle to the end, it will be a strong and patient fight. For now, I have chosen not to mention the bank’s name, as I don’t want to mix the issues yet. I may change my mind later (even in a few hours). As I told my team, we must take this refusal to finance customers buying Made-in-Nigeria vehicles very seriously, because if we can’t win at home, how can we hope to dominate regionally and globally?

I'm soooooo happyyyyyy right now ☺️☺️☺️☺️