Friday, 04 December 2020

B Business

CUSTOMER COMPLAINTS: CBN gives banks two weeks to settle customers’ complaints

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The Central Bank of Nigeria has directed banks and other financial institutions to settle customers’ complaints within two weeks.


The apex bank’s order touches on issues of overcharge, unauthorized deductions and other matters.

Mr Tajudeen Ahmed, The CBN Head of Complaints Management Division, said on Tuesday in Abuja the decision would ensure that banks’ customers received redress on issues of excess charges or unauthorized withdrawal.

Ahmed reiterated the apex bank’s commitment to eradicate short payment of interests and end the culture of excess and arbitrary charges.

According to him, the CBN has since issued a circular, which could be found on the Its website showing all legitimate bank charges.

He explained that any charge outside what is contained in the circular was not allowed and should not be charged.



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