Bank Customers File 2,122 Complaints in 7 Years

• Bank Customers File 2,122 Complaints in 7 Years

Bank customers in Nigeria filed 2,122 complaints against their banks between 2001 and 2018, according to the Chartered Institute of Bankers of Nigeria (CIBN).

The Sub-Committee on Ethics and Professionalism of the CIBN was saddled with the responsibility of resolving disputes between the banks and its customers on issues relating to unethical practices.

In 2017, the institute had awarded N30.26bn and $18.41m to petitioners and resolved 1,993 cases in 2017.

As disclosed by CIBN in its 2018 annual report and accounts, a total of N344.01bn and $420.06m was demanded as a claim by customers and over 140 cases were outstanding as at the end of the year.

The Institute has received 129 new cases with claims of N11.89bn and had awarded #1.83bn as at April 2019.

The CIBN president, Dr. Uche Olowu assured that the institute would not cease to guard its financial resources and ensure full implementation of its objectives, goals and vision.

He furthers stated that the Nigerian Banking Industry experienced outstanding developments in the year under review with the enhancement and advancement in fintech and digitization not been left out.

The Chief Executive, CIBN, Seye Awojobi said the bedrock of the institute is to ensure effectiveness and efficiency of its mandate through proper management and accountability. This process has prompted the staff to be creative and committed to achieve the set target.

“Furthermore, it is noteworthy to inform you that the current Strategy Plan (approved in 2016) of the institute would run its full course by September 2019 and adequate process has been put in place by the Research, Strategy & Advocacy Committee towards the development of a new and robust strategy plan that would incorporate the expected actions and deliverables in tandem with dynamics of the business climate.”