Central Bank Orders Nigerian Banks to Return N6.2b Illegal Charges to Customers

Date: 21-02-2016 6:21 pm (8 years ago) | Author: Daniel Bosai
- at 21-02-2016 06:21 PM (8 years ago)
(m)
Nigeria’s apex bank has said in a statement that it has compelled Deposit Money Banks (DMBs) to refund N6.2 billion to customers they over charged as cost of transactions in 2015
In a statement made available by the Director, Corporate Communications, of the Central Bank of Nigeria (CBN), Ibrahim Mu’azu, in Abuja on Saturday, the nation’s apex bank said it compelled Deposit Money Banks (DMBs) to refund N6.2 billion to customers they over charged as cost of transactions in 2015.



According to the statement, CBN is always ready to checkmate banks and protect customers from illegal, excessive charges.
“The Revised Guide to Bank Charges clearly specifies allowable charges for all banking services; the CBN does not in any way condone the fleecing of banking customers under any guise.

“It was in the quest to provide a strong voice to banks’ customers and moderate the arbitrary charges that the CBN in 2012 established a Consumer Protection Department.

“The CBN has investigated over 6,000 complaints relating to unauthorised bank charges brought to its notice, following which banks have been compelled to refund N6.2 billion to affected customers in 2015 alone.

“The 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,” it stated.
The statement urged bank customers to forward complaints of excessive bank charges to the Director, Consumer Protection Department of the Central Bank.
See the official statement below;.

Posted: at 21-02-2016 06:21 PM (8 years ago) | Addicted Hero
- gogoman at 21-02-2016 06:47 PM (8 years ago)
Online (m)
CBN you say, but would they listen?
Posted: at 21-02-2016 06:47 PM (8 years ago) | Grande Master
Reply
- ujmaria at 21-02-2016 09:09 PM (8 years ago)
(f)
Noted
Posted: at 21-02-2016 09:09 PM (8 years ago) | Gistmaniac
Reply
- yebo15 at 21-02-2016 10:42 PM (8 years ago)
(m)
Hope they would obey
Posted: at 21-02-2016 10:42 PM (8 years ago) | Upcoming
Reply
- winace at 21-02-2016 10:53 PM (8 years ago)
(f)
Any bank dat did not obey shld be closed down.
Posted: at 21-02-2016 10:53 PM (8 years ago) | Addicted Hero
Reply
- emma4love3 at 21-02-2016 11:30 PM (8 years ago)
(m)
aaah yes oooh... abeg make them return
all my small small charges to me oooh sharp
sharp....this is a good development too....
Posted: at 21-02-2016 11:30 PM (8 years ago) | Hero
Reply
- kp45 at 22-02-2016 12:09 AM (8 years ago)
Online (m)
If they will listen. By the way GTB I hope you are hearing these.
Posted: at 22-02-2016 12:09 AM (8 years ago) | Addicted Hero
Reply
- lilchuks28 at 22-02-2016 01:15 AM (8 years ago)
(m)
I pray make dem listen to you....Que Sera Sera
Posted: at 22-02-2016 01:15 AM (8 years ago) | Upcoming
Reply
- imaria at 22-02-2016 03:40 AM (8 years ago)
(f)
I hope they do so
Posted: at 22-02-2016 03:40 AM (8 years ago) | Gistmaniac
Reply
- Haso112 at 22-02-2016 05:05 AM (8 years ago)
(m)
Hmmm, if I hear say those banks refund the money, abi dem don return am ni? Abi No be Naija we dey again.. Impossicant..
Posted: at 22-02-2016 05:05 AM (8 years ago) | Gistmaniac
Reply
- hondahaller at 22-02-2016 06:45 AM (8 years ago)
(f)
You said we should report to CBN with which telephone
Posted: at 22-02-2016 06:45 AM (8 years ago) | Newbie
Reply
- princedafe at 22-02-2016 01:59 PM (8 years ago)
(m)
Another SENSIBLE act
Posted: at 22-02-2016 01:59 PM (8 years ago) | Gistmaniac
Reply
- emma4love3 at 25-03-2016 03:16 PM (8 years ago)
(m)
good move
Posted: at 25-03-2016 03:16 PM (8 years ago) | Hero
Reply
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