Customers received over N89bn refunds from banks in June

Customers received over N89bn refunds from banks in June

Customers of commercial banks in Nigeria were refunded N89.2 billion to over complaints at the end of June 2021.

This disclosure was made on Thursday by the Governor of Central Bank of Nigeria (CBN) Dr Godwin Emefiele during a CBN Fair held simultaneously in Cross River and Akwa Ibom with the theme, “Promoting financial stability and economic development”.

According to the apex bank governor, who was represented by Mr Osita Nwanisobi, Acting Director, Corporate Communication Department of the CBN, as at June the cumulative number of complaints from customers of banks was 23,526 while 22,173 were resolved.

“When the CBN governor assumed duty as the 11th governor of the apex bank, he made a profound statement that he wants a people centred CBN and you cannot have that if you do not engage.

“Also, CBN has about 37 targeted interventions which includes The Targeted Credit Facility, Health Sector Intervention, Commercial Agric Credit Scheme, Nigerian Electricity Market Stabilisation Fund and others.

“In addition, we want to use this opportunity to build the confidence of Nigerians that the nation’s financial institutions are resilient, stable and safe.

“Nigerians have nothing to fear as the CBN carries out a periodic examination of the banks,” he said.

According to the Head, Consumer Protection Department of the CBN, Mr Daramola Atanda, Nigerians must know their rights as customers and report cases of violations to the CBN on 07002255226 or

Atanda appealed to customers to ensure that they repay their loans.

Mrs Amina Abdulmalik from the Currency Operations Department of the CBN, said “Our Naira notes are supposed to last for about two years after printing but due to poor handling, some of them do not last for more than three months”.

She urged Nigerians to handle the Naira with care.

Mrs Abdulmalik spoke virtually from Uyo.

Author: Greg