Banks to Refund 17billion Naira Illicit Charges to Customers

The Central Bank of Nigeria has ordered banks to refund over N17bn illegally charged customers as of August 2014.
 Hajia Khadijah Kassim, which is the Head of Consumer Protection Department, CBN, stated this in Calabar, Cross River State on Monday. She said the decision was in response to about 5,500 complaints received from bank customers.
 Kassim said, once complaint is received; if it is a case of fraud, they move in immediately. As of August 2014; from 5,500 complaints, they have got the banks to refund over N17bn to customers.
In her word, “We are not allowing the banks to have a field day as far as treating customers fairly is concerned.”
According to her, customers have a right to complain, and advised that they always pay attention to their bank statements.
She urged customers to question any debit to their account which they did not understand and report to the concerned banks.
She said the banks had a 30-day period to resolve such issues or else they would be referred to the CBN, which would ensure that the issues were resolved fairly to the customers.
Representing the Director, CPD, Mr. U. A. Dutse, Kassim said CBN is ensuring that consumer gets maximum benefits from financial services provisioning in order to enable them take charge of their financial wellbeing and enhance economic development.
 The purpose of the week-long programme was to interact and to sensitise the state’s residents on financial literacy and consumer protection issues, she said.

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