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Forensic Audit of Bank Charges
When a company takes a bank loan, they often don’t realize how much they lose through excess/illegal charges…
Delinquent Bank Loans
There are several reasons that can make a loan go bad. While some of those reasons may be controllable, the vast majority are not…
Our Business Profile
BVA Consulting is the advisory arm of the BVA Partners Group headquartered in Lagos with business locations in FCT Abuja, Port-Harcourt and Onitsha respectively.
An innovative ﬁnancial services supermarket offering solutions that transform businesses, we have helped many otherwise bankrupt organisations bounce back to life.
Service nurtured by the desire to excel.
We are happy to discuss important matters anytime.
We are responsive to your needs, aspirations and goals.
Our Frequently Asked Questions
Yes they do. In fact, a recent CBN report disclosed that illegal charges refunded by Nigerian banks to their customers between 2019 and 2020 was roughly N289Billion.
- When you start receiving dubious debit alerts.
- When your relationship manager starts getting unusually friendly.
- When the bank stops sending your account statement regularly
- Demand for your bank statement immediately. It’s your right.
- Get in touch with a Forensic Auditor asap.
Forensic Auditors are experts specially trained to validate all debit transactions occurring in your bank accounts.
Many Forensic Auditors are Chartered Accountants and former bank employees with good understanding of the regulatory environment having worked mostly as Information System Auditors, IT Auditors and Compliance Officers.
As a business that operates with bank facilities, you definitely need Forensic Auditors because their job starts from where your Internal Auditors and Accountants stop.
They go beyond merely checking for proper classification of debit transactions (which is basically what most Accountants do) by thoroughly scrutinizing and questioning every single debit or charge in your bank statements in line with approved CBN guidelines.
You don’t pay any fee upfront.
No? Clients are not required to pay any fee upfront and many will not. Your Forensic Auditor will typically ask for a percentage (%) of any amount recovered from the bank.
And this is payable only when the bank has credited your account. Anyone who insists on collecting a fee from you upfront is probably a joker.
However, when a new customer walks in based on the recommendation of a satisfied customer, we will most likely ask for a token (Consultation Fee).
- Letter of Appointment
- Letter of Authority
- Bank statements (soft copies)
- Executed loan offer letters
- Rate review letters
- Not more than Sixty (60) days under normal circumstances. In exceptional cases, it could take a little longer.
Yes, they will because they have no choice. In fact, they are also required, by CBN, to issue a written apology to the customer.
Within the last twelve (12) months, we got a refund of over N3Billion for our customers
- Loan waivers/write-offs/full and final
- Failed POS transactions
- Failed ATM transactions
- Failed internet banking transfers
- Fraudulent transactions: Investigation and resolution
We make sure to present only valid claims. Therefore, banks hardly ever refuse to refund our clients.
However, should a bank decline our claim without justification, there is always the option of seeking regulatory intervention through either of the following;
- Central Bank of Nigeria
- Bankers’ Committee on Ethics & Professionalism
No serious bank will ever do this. Their biggest source of income is from the interest customers pay on loans. And it is tough for most banks to find good customers with viable businesses to lend to.