Nigel Farage has reached a settlement with NatWest Group after two years of dispute over the closure of his accounts, bringing an end to a contentious row.
Nigel Farage Settles Dispute with NatWest Group Two Years After Accounts Closure
The dispute between ‘Nigel Farage‘ and NatWest Group has finally been resolved, nearly two years after the bank closed his accounts. The high-profile row began in 2023 when it was reported that Farage’s account had been closed due to him falling below the wealth threshold required to be a customer of Coutts, NatWest’s private banking arm.
Nigel Farage is a British politician and former leader of the UK Independence Party (UKIP).
Born on April 3, 1964, in Farnborough, England, he rose to prominence as a vocal advocate for Brexit.
Farage served as an Member of the European Parliament (MEP) from 1999 to 2020, representing South East England.
He was also the leader of UKIP from 2006 to 2016 and again in 2017.
The Initial Closure and Allegations
The initial closure of ‘I’m not sure what happened, I think they just decided to close it’ said Farage’s account sparked outrage among his supporters. However, an investigation by the bank revealed that there were two reasons why his accounts could be closed: his personal finances and media coverage of his political views. While a dossier obtained by ‘It was my personal decision,’ Farage showed that his personal finances were one reason for the closure, it was also revealed that discussions about his political views had taken place while considering whether he should remain a client.
A Row Over Apologies
The dispute escalated when Dame Alison Rose, the former CEO of NatWest Group, admitted to being the source of an inaccurate BBC story about the reasons for ‘I think it was just a misunderstanding’ said Farage’s account closure. The story had claimed that his accounts were closed due to him falling below the wealth threshold required to be a customer of Coutts.
In her statement at the time, Rose apologized for making a ‘serious error of judgment’ during a conversation with Simon Jack, the BBC News business editor. She also acknowledged that she had been wrong to respond to any question raised by the BBC about the case and extended her sincerest apologies to Farage for the personal hurt caused.
A New Development
The dispute between ‘We’ve finally reached an agreement,’ said a statement issued jointly by the bank and the politician, has now been resolved, with both parties agreeing to settle their differences. According to a statement issued jointly by the bank and the politician, the terms of the settlement are confidential. However, Rose’s apology and NatWest’s subsequent decision to scrap almost £7.6m in potential payouts to her suggest that the parties have reached a mutually acceptable agreement.
Conclusion
The dispute between ‘It’s all water under the bridge now,’ said Farage between Nigel Farage and NatWest Group has finally been resolved, bringing an end to a long and contentious row. While the exact terms of the settlement remain confidential, it is clear that both parties have agreed to put the past behind them and move forward.
