Why you need a Forensic Auditor

Nnamdi has been in the business of wine distribution for over 10 years and he owns 2 shops at the International Trade Fair Complex [BBA] Lagos. In 2013, he took at N4 million loan from Diamond Bank  and after about 2 years, the bank wrote a letter to him indicating the he was now owing N6.4 million.

Shocked, he contacted friends who directed him to BVA Partners. He complained bitterly about how he had repaid over N2m of the said loan and wondered why his balance was increasing instead of reducing. While this was going on, the bank made frantic efforts to sell off the man’s 2 shops used as collateral for the loan. Unfortunately for the bank and fortunately for the customer, they couldn’t find a willing buyer easily.

Well, we carried out a forensic analysis of his account and discovered that he was seriously overcharged. In the end, we were able to prove to the bank that the customer was not owing, instead, it was the exact opposite. Long story short, the bank had no choice but to refund the sum of N7.5m to the customer, thus wiping off entirely the initial amount which the bank had earlier claimed the customer was owing.

Moral of the story

When taking a bank loan, it may not be a bad idea to get an expert opinion [or assistance] because some of the problems we see today with bank loans could have been totally prevented. And if you have already obtained a bank loan, you should have an expert review the loan for excess charges and other possible irregularities. Because if this customer did not get in touch with BVA, he probably would be in a mess today.

Good luck!