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Banks Refund N89 Billion To Customers in June, CBN


Banks Refund N89 Billion To Customers in June, CBN

The Governor of Central Bank of Nigeria (CBN) Mr Godwin Emefiele, Thursday disclosed that commercial banks refunded N89.2 billion to customers over complaints at the end of June 2021.

Emefiele made the disclosure during a CBN Fair held simultaneously in Cross River and Akwa Ibom with the theme “Promoting financial stability and economic development”.

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

According to him, the fair became necessary to create awareness on CBN interventions and how it was impacting the lives and businesses of the people.

“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.

On the issue of digital currency by the CBN, the governor asserted that Nigerians needed to understand that crypto currencies are issued by unknown entities without regulations, adding that the digital currency which CBN intends to issue would be regulated by it and can be used for the nation’s monetary policy.

In his remarks, Mr Daramola Atanda, Head, Consumer Protection Department of the CBN, noted that Nigerians must know their rights as customers and report cases of violations to the CBN on 07002255226 or cp*@cb*.ng.

Atanda however asked bank customers to be responsible as there were issues that were in their own purview; such as understanding the package given to them by banks.

He also appealed to customers to ensure that they repay their loans and protect their financial instruments such as debit cards and others.

Speaking virtually, from Uyo, Mrs Amina Abdulmalik of the Currency Operations Department of the CBN, called on Nigerians to handle the Naira with care as it remains a national symbol of pride for all citizens.

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