Banks Treat 22,173 Complaints, Refund N89bn To Customers By June

Nigerian commercial banks have processed a total of 23,526 customers’ complaints of which 22,173 were resolved and N89.2 billion refunded to their customers by June 2021.

The refund upon the processed complaints of customers is made possible by the apex bank Consumer Protection Department that encourages customers to report issues if violations to the CBN for resolution.

Osita Nwanisobi, Acting Director, Corporate Communication Department of the CBN, disclosed during a CBN Fair held simultaneously in Cross River and Akwa Ibom with the theme “Promoting financial stability and economic development”.

Nwanisobi, who stood in for the CBN Boss, Godwin Emefiele said the fair is to create awareness on CBN interventions and how it was impacting on the lives and businesses of the people.

“When the CBN governor assumed duty as the 11th governor of the apex bank, he made a profound statement that he wants a people-centered CBN and you cannot have that if you do not engage.

“Also, CBN has about 37 targeted interventions which include The Targeted Credit Facility, Health Sector Intervention, Commercial Agric Credit Scheme, Nigerian Electricity Market Stabilisation Fund and others.

“In addition, we want to use this opportunity to build the confidence of Nigerians that the nation’s financial institutions are resilient, stable and safe.

“Nigerians have nothing to fear as the CBN carries out a periodic examination of the banks,” he said.

On the issue of digital currency by the CBN, the governor asserted that Nigerians needed to understand that cryptocurrencies are issued by unknown entities without regulations.He added that the digital currency which CBN intends to issue would be regulated by the apex bank and it can be used for the nation’s monetary policy.

In his remarks, Daramola Atanda, Head, Consumer Protection Department of the CBN, noted that Nigerians must know their rights as customers and report cases of violations to the CBN on 07002255226 or cpd@cbn.gov.ng.

Atanda however asked bank customers to be responsible as there were issues that were in their own purview; such as understanding the package given to them by a bank.

He also appealed to customers to ensure that they repay their loans and also protect their financial instruments such as their debit cards and others.

Speaking virtually, from Uyo, Amina Abdulmalik from the Currency Operations Department of the CBN, called on Nigerians to handle the Naira with care as it was national pride.