By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Asks Nigerians To Report Cases Of Illegal Charges By Banks
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

CBN Asks Nigerians To Report Cases Of Illegal Charges By Banks

Farouk Mohammed
By Farouk Mohammed
Published: February 20, 2016
Share
2 Min Read
SHARE

cbn111111-2-1-1-1-1-1-1-1-1-1

The Central Bank of Nigeria (CBN) has asked banks’ customers to report cases of excessive and in some cases illegal charges by Deposit Money Banks.

In a statement on Saturday by the CBN’s spokesman, Ibrahim Mu’azu, the apex bank said it had received series of complaints from customers of Deposit Money Banks (DMBs) alleging excessive charges from their respective banks.

The bank reiterated that the Revised Guide to Bank Charges clearly specified allowable charges for all banking services, warning that it would not in any way condone the fleecing of banking customers under any guise.

- Advertisement -

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

The apex bank said it had investigated over 6,000 complaints relating to unauthorised bank charges brought to its notice and that banks had been compelled to refund over 6.2 billion Naira to affected customers in 2015 alone.

It expressed its resolve to continuously enforce the provision of the Revised Guide to Bank Charges and urged members of the public to report cases of infringement to enable it investigate and apply sanctions on any erring Deposit Money Bank (DMB).

Bank Customers are urged to forward their complaints to the Director, Consumer Protection Department through an email the apex bank provided – [email protected].

- Advertisement -

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:BanksCBNIllegal Charges
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Photos From Monalisa Chinda’s Traditional Wedding In Port Harcourt
Next Article PHOTOS: President Buhari Arrives Abuja After Africa Business Summit In Egypt

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow
- Advertisement -
Ad imageAd image
- Advertisement -
- Advertisement -
Ad imageAd image

Recent Posts

Tonye Cole Declares Nigeria’s Presidential System Unsuitable, Calls for Homegrown Governance Model
News Politics
Ekiti State Advances Water and Sanitation Infrastructure with Solar-Powered Facilities
News
NYSC Sets Date for Commencement of Batch ‘A’ Stream II Orientation Course
News
NELFUND
NELFund Expands Interest-Free Loans to Vocational Centres, Enugu Among First Beneficiaries
Education News
Finnish Authorities Charge Simon Ekpa with Terrorism Over Biafra Separatism
News
- Advertisement -
Ad imageAd image

You May Also Like

News

FG Revalidates Social Register to Boost Cash Transfer Payments Amid World Bank Concerns

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
May 17, 2025
Mr Macaroni
Celebrities

Mr Macaroni Opens Up About Fear of Marriage, Says He’s ‘Zoned Out’

Damilola A.
Damilola A.
May 16, 2025
News

JUST IN: Tinubu Hosts Alaafin of Oyo at State House, Reaffirms Role of Traditional Rulers in National Unity

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
May 16, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?