LAGOS, Nigeria — Executives from the United Bank for Africa said that the financial institution made a mistake when it decided to put a block on so-called “high risk” online transactions.
Last week, UBA restricted its cards from performing debit-card transactions on porn sites, as well as with online casinos and escort sites, reasoning that it “become necessary with the increased need to protect our customers and the institution from fraud, litigation and reputational damages.”
Now, the Lagos, Nigeria, bank has flipped 360 degrees after scores of customers came forward complaining about the policy.
Chukwuma Nweke, UCB’s executive director, late Friday apologized, saying to customers that “we have listened to you and have heard that this is not in line with your expectations.
“Please be informed that all sites have been unblocked and you can now transact on any platform globally that you would like to whilst we continue to provide surveillance on some high-risk activity points to protect your transactions.”
“We apologize for any inconvenience caused and will continue to work hard to serve you better.”
UBA is one of the largest banks on the continent of Africa, with operations in 19 African countries and offices in London, New York and Paris. It was established in 1948 and has more than 12,000 employees.