Sterling Bank has dismissed recent rumours by one of its defaulting customers, Hotel Excel Limited owned by Chief Moses Efe Odeh (pictured), that the bank overcharged it to the tune of N200million as a pack of lies.

In a statement signed by the Group Head, Strategy & Communications Shina Atilola, the bank stated that the Warri based hospitality firm located at Refinery Road at Effurun  is a customer of the bank, and obtained a loan but defaulted in repayment.

And following the floating of AMCON to take care of bad debts from failed debtors of banks, the bank sold part of the debt to AMCON.

According to the Bank, AMCON bought a total value of N1,130, 554,652.64 out of the debt leaving an outstanding  balance of  N782,381, 474 .16. However, the customer in its continued attempt to renege on its loan obligations filled a suit against AMCON and the Bank consequent upon which the Bank filed a counter claim for the outstanding loan of N782,381,474.16

However, instead of allowing the judicial process to run its course on the matter, Hotel Excel Limited resorted to blackmail within the social media circle apparently in a bid to cow and intimidate the bank.

The Bank affirmed that despite the adoption of guerrilla warfare by Hotel Excel Limited, it will continue to pursue the caseto a logical conclusion adding that it is not disturbed by the action of the hotel thus far.

The bank dismissed claims by   Hotel Excel that the Bank failed to send to it a periodic statement of its account as contracted adding that at no time was any statement containing bloated charges and fraudulent entries sent to the Hotel.

The statement reads in part: “Sterling Bank is not disturbed or distracted by reports making rounds that we impose excess charges on our customers. We have over a million customers and they cannot all be wrong about their choice of banking with Sterling Bank.

‘’Hotel Excel Limited is owing the Bank the total sum of N782,381, 474 .16 and this will be recovered through legal means. All that the Hotel is doing now is to pressurize the Bank to back out of the judicial process put in place. We will see the process through and recover the money”, the bank added.



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