Jaiz Bank Plc has denied allegations of institutional fraud involving a disputed ₦104 million investment transaction in Jos, Plateau State, insisting that the funds were neither received nor recorded in any of its official accounts or investment products.

The bank, in a statement issued by its Corporate Communications Department, said an internal review of transactions involving a former employee and some complainants showed that the disputed arrangement was a private transaction between the parties and not an investment authorised by the financial institution.

It maintained that its internal records contained no evidence of any bank-approved investment involving the disputed amount, stressing that the transaction details presented by the complainants did not conform to its established operational, regulatory and authorisation procedures.
The clarification follows recent media reports alleging institutional fraud over the ₦104 million investment arrangement, which has generated controversy in Jos.
The bank’s clarification follows a protest by aggrieved customers at its main branch in Jos on Monday, November 2, 2026, over alleged missing investments. The protesters had called on the Central Bank of Nigeria (CBN), the Nigerian Bar Association (NBA) and the Federal Government to intervene and facilitate the recovery of their funds.
The dispute, according to reports, dates back to 2022 and involves transactions allegedly facilitated by a former employee of the bank, identified as Habiba Abdulrahman, and her husband.
The affected customers claimed they invested their money through an arrangement they understood to be a non-interest banking investment scheme, under which their deposits would be deployed for business activities in return for agreed profits.
One of the complainants, Hashim Faruk, alleged that he invested about ₦65 million belonging to himself and members of his family, including his mother, wife and children. He claimed that the affected customers subsequently encountered difficulties recovering their investments.

Jaiz Bank disclosed that the matter was currently before the High Court of Justice of Plateau State, urging the media and members of the public to refrain from drawing premature conclusions based on unverified accounts while judicial proceedings remain ongoing.