cbnCentral Bank of Nigeria, CBN has disclosed that it has investigated over 6000 complaints relating to unauthorised bank charges brought to its notice, following which banks have been compelled to refund the sum of over N6.2billion to affected customers in 2015 alone.
This was revealed in a statement signed by the apex bank’s Director, Corporate Communication, Ibrahim Mu’azu at the weekend. He explained that the CBN received series of complaints from customers of Deposit Money Banks, DMBs, alleging excessive and in some cases illegal charges from their respective banks.
According to him, “The Revised Guide to Bank Charges clearly specifies allowable charges for all banking services and the CBN does not in any way condone the fleecing of banking customers under any guise.”
Mu’azu added that it was in the quest to provide a strong voice to banks’ customers and moderate the arbitrary charges that the CBN in 2012 established its Consumer Protection Department.
“CBN wishes to reiterate its resolve to continuously enforce the provision of the Revised Guide to Bank Charges and urges members of the public to report cases of infringement to enable it investigate and apply sanctions on any erring DMB, “ he stated
He also urged bank customers to always forward their complaints to: Director, Consumer Protection Department, for adequate attention and action.

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