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Fri, Mar

CBN Recovers N82BN Excess Bank Charges, Others

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The Central Bank of Nigeria (CBN) has announced that it has recovered and facilitated the repayment of N82.2 billion to customers for failed transactions and excess and illegal charges by commercial banks in Nigeria. CBN Governor, Godwin Emefiele represented by Acting Director, Corporate Communications Department, Osita Nwanisobi disclosed this during the 2-day CBN Public Enlightenment fair in Calabar, saying “as of June 2021, not less than 23, 536 complaints were received from which N82.2 billion was refunded.”


Emefiele said, “Oftentimes, there have been sundry issues. Once we get these complaints, we investigate and if the issues are found to be true, we make sure refunds are made. As of June 2021, we have facilitated the refund of N82.2 billion to customers.”


He explained that customers have thr right to redress and report infractions, also urging them to provide factual information to help the apex bank address the issues.


The apex bank boss said the bank is undertaking interventions in areas of health, credit, commercial agriculture, real and electricity market stabilization, among others.


“During the heat of the COVID-19 pandemic last year, we realised that the global economy was shut down, with families and businesses affected.


“The first thing CBN did was to roll out some interventions to mitigate the impact of the pandemic on livelihoods and businesses. It was a health crisis, and we needed to up our game in terms of health infrastructure,” he stated.


Speaking on the enlightenment fair, he said “We want Nigerians to know that we carry out “banking examinations” and the results show that our banks are in very good condition and our financial system is stable, resilient, safe and sound”.


“This sensitisation is part of ways to engage the people to understand how our polices, programmes and interventions are affecting them and as well as create a veritable platform to discuss and understand their challenges through their responses and feedbacks.”

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