first bank

Lady Drags First Bank’s Sanlam Insurance Company, Begs for Her Money

Secrets Reporters

Asomadu Onyinye Nk has taken to social media to demand the payment of her investments from Sanlam Insurance Company, a subsidiary of First Bank.

Nk’s frustration came to light when she vented her grievances on Sanlam’s official Facebook page, stating, “If only my money would be sent to me. A money that matured since 2021 can’t get to my hand is hilarious. It has been ‘give us 2 working days,’ to ‘give us 2 working days.’ How long will I keep waiting?”

Upon being contacted by our reporter, Nk detailed her harrowing experience with Sanlam, which she claims has been ongoing since May 2021. Despite her investment policy maturing for withdrawal, she alleges that the company has been unresponsive and uncooperative.

“I started this saving policy with them since 2016. That is 5 years saving policy,” Nk explained. Along the line, I lost my work and I stopped. Since May 2021, my money is mature for withdrawal, but they refused to pay me.”

Nk further revealed that she was asked to open another policy before her funds could be released. Despite complying and opening an Edu policy in October 2021, she alleges that her attempts to retrieve her money have been met with obstacles and delays.

“They requested that I open another Policy before they will pay me. I opened Edu policy in Oct. 2021. I requested for my money, the person I met said because I was not consistent with the payment that it would be hard for me to get my money,” she stated.

Exasperated by the lack of progress, Nk highlighted her disappointment with Sanlam’s handling of her case, cautioning others against investing with the company. Despite receiving a mail instructing her to fill in a form for a partial payment of ₦98,000 out of her ₦140,000 investment, she expressed dismay over the deduction of ₦42,000 due to her policy lapse.

Days later, Nk responded to another post by Sanlam, expressing her dissatisfaction with the deducted amount. The company responded, citing non-remittance of premiums as the reason for the lapse in the policy.

Sanlam Nigeria, a member of the Sanlam Group, operates as a fully licensed and regulatory-approved underwriter, providing life insurance services to its clients, the company’s website said.

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