In the parable of the unprofitable servant, the Máster castigates the servant for hiding the money in the soil instead of putting it in the bank where it would have accrued interest.

Banks used to be a veritable institution in the society by attracting people's funds, investing same and giving back some interest to the owners.

But today, the story is different, banks have become leeches and blood sucking ticks, siphoning hard earned funds from people's account and making it almost impossible sometimes to withdraw one’s money. How did we get here? 

Banks have become big business and CEO and Managers prey on the masses. They trade with people's funds and pay little or nothing. Colluding with government, they add various fees and deductions from Internet charges, SMS charges, maintenance charges and the like. ‘Ko right now!’ 

In sane climaterio, banking activities are much more regulated and customers’ friendly. Bank personnel treat customers like human beings and are professional in their operations. When banks are looking for customers, they go all out to be pleasant, accomodating and helpful, but once your money enters the account they are keeping for you, then, they become non-chalant, clueless, deceptive and exploitative. The way banks demand for compliance, one would expect that no farthing will elope from any account, yet funds disappearance has become common place. 

In the age of internet banking, banks have become obnoxious loopholes for fraudsters to exploit at will and the banking systems are proving helpless and incapable of arresting the situation.

Banks have been known to collect people’s money, invest it or give it out as long as for like 25% yet what depositors get is often less than two percent (2 %). Even with Fixed deposit, hardly do depositors get Ten percent.

Is it thus, not advisable for depositors to keep their money some other ways with minimal risk since the funds deposited in Banks are not risk free even when Regulatory bodies aver that they are issued? 

Today, there is hardly any aspect of the banking systems that is palatable or even profitable. Next of kin are strategically deprived of access to their loved one's funds, yet bank officials routinely use the same funds for selfish and nefarous businesses. 

Recently, it has been discovered that some banks open accounts in people's name without their consent. Because of the centralization of data, new accounts are opened with people's BVN, phone numbers and other details. Some are never aware while other become aware only when they get SMS from a bank that they have no business with.

This act, to say the least is deplorable, criminal and immoral and should be condemned unequivocally. Banks, thus found out to be culpable should be made to pay criminal charges and restitute affected customers.  

This is important today because many financial malpractices on the part of Banks have rendered many people sick, emotionally drained, and psychologically unstable. The insane amount of stress that many go through just for simple withdrawals has led many to question the purpose of the existence. Quite often today, it is man’s inhumanity to man that gnaw us in the face. 

In better organized and sane societies, where thing are well regulated, Customers are kings and banks treat customers with respect. Making bank customers to stand outside for hours for one’s own money is degrading. Keeping customers unattended to for more than ten minutes in the technologically operating world of today is barbaric. We enter Banks these days, see lots of bankers moving around, yet nothing gets done. In other countries, the crowd that characterizes our banking institutions in Nigeria are nonexisting.

Truth be told, if you are looking for a physical manifestation of Scam, look no further than our banking industry. They promise what they cannot deliver and take until owners become dispirited, angry, and unable to continue a process that should be easy but made inoperable by our crazy banking culture. 

Why am I writing about banking crisis? Because whatever affects the human person affects the quality of life and human flourishing and God has made us to have life and have it abundantly. And someone said that “a great banker is not one who not only manages money but also nurtures dreams.” Our bankers and their banks today kill people along with their dreams. Many of our banks today empower only the rich, probably because they are in league together to exploit the masses, instead of empowering them financially. 

We cannot quickly forget the atrocity of many banks who during the cash crunch of 2023, would give scarce money to money bags to throw away at parties, while the poor are deprived of even just Ten thousand naira to meet their daily needs.

Banks are as good as their Staff, and sometimes many Bank Executives do not come across as humans, but beasts interested in profit to the detriment of people. One day, the people will come for the banks, and it will not be pretty. Before that happens, innovate today, nurture dreams, support the masses, serve people better and help create better communities and economies instead of just propping up our oppressors.