A businessman in Nairobi named Paul Ouma has gone public with serious claims against I&M Bank. He says staff at the branch near City Market demanded a 30 per cent cut of his account balance to release frozen funds. Ouma shared his story on social media this week, and it has sparked a lot of discussion online in Kenya.
Ouma, who runs his own business, told his followers he has used I&M Bank for years. This year, he moved between 7 and 13 million shillings through his account. He withdrew 2 million shillings from legitimate business earnings. A week later, when he went back to the branch, things changed.
His account got frozen suddenly. Nearly 5 million shillings were locked inside. It happened in December, right during the festive season. School fees were due in January. Ouma had no access to his money.
The bank asked for proof of where the funds came from. He provided documents. They even checked with the source. Still, nothing happened. Ouma says he was sent from teller to manager and back. Emails went unanswered at first. He felt frustrated and brought in his lawyer.
Then, on December 15, he got a call from someone he did not know. They wanted to meet. At the meeting, the person said the account could be “helped”. But only if Ouma paid 30 per cent of the balance. Ouma calls this extortion. He believes it involved bank staff, maybe even higher up.
After that meeting, things moved fast at the branch. He was taken to different offices. Soon, the account opened again. Ouma says he ended up paying over 500,000 shillings to get his money back.
In his posts, Ouma warns others. He says avoid I&M Bank. Trust is gone for him. He thinks some staff see customer money as a chance to make extra on the side. Hard-working Kenyans should not face this, he adds.
I&M Bank’s official account replied quickly on social media. They apologised for any trouble. They said freezes happen for routine compliance checks. Banks must follow anti-money laundering rules in Kenya. They denied any charges for releasing funds. The bank asked Ouma to send details privately so they can look into it.
Ouma did not hold back in follow-up posts. He named the branch clearly: the tall blue building behind Rubis petrol station near City Market in Nairobi CBD. He said staff acted arrogantly. Even after the freeze lifted, accessing the account took more delays.
Many Kenyans reacted online. Some shared their stories of frozen accounts at different banks. Large withdrawals often trigger checks. Others wondered if Ouma has proof for the bribe claim. One person warned him about possible libel if no evidence exists.
Freezing accounts is common in Kenya when banks spot unusual activity. Central Bank rules require it to fight money laundering. But customers complain it takes too long occasionally. Businesses suffer when cash is stuck.
I&M Bank has branches all over Nairobi and Kenya. The City Market one is in a busy area. Customers go there for personal and business banking.
Ouma’s story comes at a bad time. December is when people need money most. Festive spending, fees, family support. A freeze hits hard.
Other users asked if more people faced the same at I&M. A few said yes, but without details. Most talk stayed on Ouma’s case.
Banks say they do not ask for payments to unfreeze. The official process is free once checks clear. But rumours of side deals pop up now and then in Kenya.
Ouma says he speaks out so it stops. He wants young Kenyans to protect themselves. Choose banks carefully.
The bank says they take complaints seriously. They invited Ouma to talk directly.
As of now, no official investigation has been announced. But the posts have thousands of views. People in Nairobi searching for I&M Bank issues will see this.
Frozen accounts affect many. Some wait weeks. Other months if disputes arise. Ouma moved on after getting access. But he closed ties with the bank. His advice: read experiences before trusting any bank with big money.
This case shows tensions between bank rules and customer needs. Compliance is law. But delays hurt real lives.
Kenya’s banking sector grows fast. More people use accounts. Issues like this build or break trust.
For now, Ouma’s claims stand as his personal story. The bank denies wrongdoing. Customers watch to see what happens next. If you bank with I&M in Nairobi, check your statements. Know the rules on large moves. It might prevent surprises.
