We have confirmed reports, that certain banks were giving their customers a haircut. No. They haven’t pivoted to barbershop operation. International services like Uber Lagos would display Naira denominated receipts, by converting using the official CBN rate, and these banks would debit accounts using parallel (black market) rates.


To the chagrin of many users of the Uber Lagos service, the disparity can sometimes be as high as 35-40%. Of course, all this is only possible in the first place, because of Nigeria’s Forex clusterfuck. Story for another day.

Beat FM On-Air personality, Osi Suave, noted on Twitter this morning, that Diamond Bank debits customer cards with the amount reflected on their Uber receipt.


And it’s not just Osi, too.

And it’s not just Diamond Bank, too.

The reports of double debits we’ve seen have come from GTBank card holders, and even though they issued an explanation, it still doesn’t explain why they do it, and Diamond Bank doesn’t.

Osarumen Osamuyi Author

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