CBN resolves over 13,000 complaints, refunds N76bn, $20m to bank customers

By Shola Abayomi.

The Central Bank of Nigeria (CBN) on Thursday revealed it has resolved over 13,000 financial-related complaints as of November 30, 2019.

This was disclosed by the CBN’s Director of Consumer Protection Department, Mr Kofo-Abdulsalam Alada, who spoke at a workshop for business editors and members of the Finance Correspondents Association of Nigeria in Yola, Adamawa State.

Represented by Mr Tyoden Nanfwang of the CPD, Alada disclosed that the apex bank has facilitated refunds of N76.75 billion and $20.90 million to bank customers.

He disclosed that the refunds are in line with the mandate of the Consumer Protection Department of the CBN to promote consumer confidence in the financial system.

“We resolved over 13,000 complaints, obtained refunds of N76.75 billion, 20.90 million dollars, among others to bank customers as of November 30.

“The department has also developed a consumer-protection framework and established a guide to charges by banks and OFIs”, he said.

He urged bank customers to report financial complaints to the CBN whenever they feel dissatisfied with responses from their banks.

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