The Central Bank of Nigeria (CBN) has told bank customers to report cases of excessive illegal charges by banks, in a bid to curb illegal charges by Deposit Money Banks. 

This disclosure was revealed in a statement by the CBN spokesman, Ibrahim Mu’azu, who said that the apex bank had received a number from customers of Deposit Money Banks (DMBs), citing excessive charges from their respective banks.

“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.

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The CBN said it had investigated over 6,000 complaints relating to unauthorized 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.

According to the statement, 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.

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