Nigel Farage is to launch a legal fight with NatWest over the debanking saga which culminated in the resignation of chief executive Dame Alison Rose.

The former Ukip leader said he is instructing lawyers to take action against NatWest Group, with the aim of turning it into a class action.

The banking giant has sought to draw a line under the row by scrapping about £7.6 million in potential payouts to its former boss after she left the company in July.

The scandal erupted when Mr Farage revealed in June that Coutts, which is owned by NatWest, was planning to close his account.

He claimed it was due to his political opinions.

Dame Alison’s departure came after she admitted she had spoken to a BBC journalist about Mr Farage’s relationship with Coutts.

The bank on Friday said there was “no finding of misconduct” against her, but that she has not been considered a “good leaver” and will, therefore, not receive most of the discretionary parts of her pay package.

In a video posted on X, formerly Twitter, Mr Farage said the bank’s decision was “correct and right”.

“But this is not the end of the NatWest saga. I’m instructing lawyers today to take action against NatWest bank for what they’ve done, for their breach of confidence, for their lying.”

He also tweeted: “My aim is to turn this into a class action as so many others have been wronged.”

He will begin the legal battle next week, according to Sky News, which reported that he has instructed London-based Grosvenor Law to act for him in a claim against both NatWest and Dame Alison.

The outlet cited an unnamed source as saying Mr Farage could seek millions of pounds for damage to his reputation and to cover his legal costs.

Grosvenor Law declined to comment.