Banking & Finance
CBN Releases Number, Emails Over Banks Unresolved Complaints, Imposes Stiffer Sanctions On Banks
CBN Releases Phone Number, Email addresses, and website for Nigerians Over Banks Unresolved Complaints, Imposes Stiffer Sanctions On Banks.
Ten of Nigeria’s top banks received 5.7 million customer complaints between January 1 to December 31, 2021. The 2021 complaint figures represent a massive increase over the 2.69 million complaints received by banks from customers within the same period in 2020.
BrandNewsDay reports that the 10 banks surveyed are Zenith Bank, Guaranty Trust Bank, First City Monument Bank, United Bank of Africa, Access bank, Fidelity bank, Union bank, Sterling bank, and Unity and Wema bank.
Notably, these figures were arrived at after analysing the 2021 annual financial reports of the banks submitted to the Nigerian Exchange.
The breakdown of Nigerian banks‘ customer complaints of the banks’ reports also showed that 583,702 of the 5.2 million customer complaints remained unresolved during the review period.
A breakdown of the figure for total unresolved complaints shows that Access bank leads the table in the number of complaints. Access bank report showed it received a total of 2.1m complaints in a year, with 306,116 unresolved.
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This is followed by the 907,715 received by Fidelity bank, of which 54,909 complaints are unresolved. GTBank comes third in the number of customer complaints after recording a total of 673,772 complaints. Out of this figure, only 1,605 were unresolved, an almost 100 per cent success rate.
List of banks and number of complaints UBA. 464,391 Access 2,120,002 FCMB 298,437 Fidelity 907,715 GT 673,772 Sterling 204,342 Union 499,774 Unity 77,467 Wema 216,772 Zenith 307,537.
Banks with several Unresolved complaints UBA 3370 Access 306,116 FCMB 14,008 Fidelity 54,909 GT 1,605 Sterling 2,126 Union 13,566 Unity 7 Wema 21,681 Zenith 166,314.
CBN reacts When contacted for comments, Osita Nwanisobi, the Central Bank of Nigeria (CBN) spokesperson, said bank customers with unresolved complaints should contact the apex bank.
He added that “You can only direct your Complaints to CPD upon the failure of your Bank/Financial Institution to resolve your complaint within the 2 weeks timeline given by the CBN.” cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226. Customers can complain directly on the CBN website via this link.”
The Central Bank Of Nigeria Imposes a Sanction Of N10, 000 On Instant (Inter-Bank) Electronic Funds Transfer Services In Nigeria Part of the circular reads: “A failed NIP transaction not reversed into customer’s account within 24 hours Based on complaints of the sender and/or beneficiary? of N10,000.00 per item.”