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Illegal Deductions: CBN Returns N65bn To Bank Customers - Business - Nairaland

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Illegal Deductions: CBN Returns N65bn To Bank Customers by Truth234(m): 2:41am On Jul 19, 2018
The Central Bank of Nigeria says it has recovered over N65bn from commercial banks in the country for wrongful deductions and charges from customers’ deposits and other transactions in the last six years.

The Acting Director, Corporate Communications, CBN, Mr Isaac Okorafor, stated this on Wednesday on the sidelines of a two-day fair with the theme: ‘Promoting Financial Stability and Economic Development’ for stakeholders in Asaba, Delta State.

Okorafor explained that the recovery was made between 2012 and now, stressing that the funds had since been returned to customers, who hitherto complained of wrongful charges and deductions by commercial banks.

“We have recovered and returned to customers over N65bn out of complaints by people over acts of treatment on customers, wrong charges, wrong deductions and others since 2012/2013 when we started,” he said.

He stated that the purpose of the fair was to have a face to face interaction with customers and critical stakeholders in order to understand their challenges and proffer solutions.

Okorafor added that hawking of various denominations of the naira was an offence punishable under the CBN Act of 2005, and warned that the apex bank would not tolerate the breach of its Act, and called on those involved, particularly its staff members, to desist from the practice as they would be dismissed if caught.

He, however, blamed the police for the lack of prosecution of offenders who were caught hawking naira during various raids in Lagos, Port Harcourt, Onitsha, Ibadan and other cities.

He stated, “The CBN is very committed to making sure that people do not hawk the naira, because it is an offence punishable under the CBN Act of 2005. We have made it clear to any of our staff involved in the practice that they will be dismissed.

“We have also made it clear to banks that any of them caught doing it will be severely punished. We are a regulator and not a law enforcement agency. It is the duty of the Nigerian Police to enforce the law. We have collaborated with them at different times.

“We have had raids in Lagos, Port Harcourt, Onitsha, Ibadan and so on, and we will continue to do that, and people have been caught and money confiscated. We are waiting on the police to begin to prosecute those people.”

http://investorsking.com/illegal-deductions-cbn-returns-n65bn-bank-customers/

3 Likes 1 Share

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by MANNABBQGRILLS: 2:51am On Jul 19, 2018
We asked the last time that where is the money?
Who don get alert?!

44 Likes 3 Shares

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Nobody: 3:46am On Jul 19, 2018
I never get alert oh.

15 Likes

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by dingbang(m): 4:16am On Jul 19, 2018
grin






Good news for all first bank customers. To stay on top of your game, download and install the first bank mobile app to see statement of accounts and check what's happening in your account. Click the link on my signature to know more..
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by BedLam: 7:46am On Jul 19, 2018
Make I check my account if na true. Please everyone check your account.

9 Likes

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by somto10: 7:47am On Jul 19, 2018
the ogas go still share it cuz most customers don't even know their money is deducted...

2 Likes

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by inoki247: 7:47am On Jul 19, 2018
How will i get back my Money..
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Yinxies(f): 7:47am On Jul 19, 2018
Still waiting for my refunds
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by BruncleZuma: 7:48am On Jul 19, 2018
Nope...only on the pages of newspapers...

3 Likes

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by maximunimpact(m): 7:48am On Jul 19, 2018
Okayyyyy.... so that was the 22 naira access bank sent me abi?

10 Likes

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by nabegibeg: 7:48am On Jul 19, 2018
Truth234:
The Central Bank of Nigeria says it has recovered over N65bn from commercial banks in the country for wrongful deductions and charges from customers’ deposits and other transactions in the last six years.

The Acting Director, Corporate Communications, CBN, Mr Isaac Okorafor, stated this on Wednesday on the sidelines of a two-day fair with the theme: ‘Promoting Financial Stability and Economic Development’ for stakeholders in Asaba, Delta State.

Okorafor explained that the recovery was made between 2012 and now, stressing that the funds had since been returned to customers, who hitherto complained of wrongful charges and deductions by commercial banks.

“We have recovered and returned to customers over N65bn out of complaints by people over acts of treatment on customers, wrong charges, wrong deductions and others since 2012/2013 when we started,” he said.

He stated that the purpose of the fair was to have a face to face interaction with customers and critical stakeholders in order to understand their challenges and proffer solutions.

Okorafor added that hawking of various denominations of the naira was an offence punishable under the CBN Act of 2005, and warned that the apex bank would not tolerate the breach of its Act, and called on those involved, particularly its staff members, to desist from the practice as they would be dismissed if caught.

He, however, blamed the police for the lack of prosecution of offenders who were caught hawking naira during various raids in Lagos, Port Harcourt, Onitsha, Ibadan and other cities.

He stated, “The CBN is very committed to making sure that people do not hawk the naira, because it is an offence punishable under the CBN Act of 2005. We have made it clear to any of our staff involved in the practice that they will be dismissed.

“We have also made it clear to banks that any of them caught doing it will be severely punished. We are a regulator and not a law enforcement agency. It is the duty of the Nigerian Police to enforce the law. We have collaborated with them at different times.

“We have had raids in Lagos, Port Harcourt, Onitsha, Ibadan and so on, and we will continue to do that, and people have been caught and money confiscated. We are waiting on the police to begin to prosecute those people.”

http://investorsking.com/illegal-deductions-cbn-returns-n65bn-bank-customers/

I have not seen my own oooo
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Tberry01(f): 7:48am On Jul 19, 2018
I haven't seen mine
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Robbin7(m): 7:48am On Jul 19, 2018
E never reach my hand oooo

3 Likes

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by stevodot22(m): 7:48am On Jul 19, 2018
Make dem return my 540 naira back ASAP.
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by handsome86(m): 7:49am On Jul 19, 2018
I never see my own

4 Likes

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by ActiveFx: 7:49am On Jul 19, 2018
Both CBN and the Banks are birds of the same feather. We will overcome them one day.

1 Like

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by foolbuster: 7:49am On Jul 19, 2018
Wait wait. wait. When? How? Where? They have not given me ooo.
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Administration1: 7:49am On Jul 19, 2018
Make i rush go make complains
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Compliant(m): 7:50am On Jul 19, 2018
Money that will NEVER get to the real owners

WHAT A COUNTRY

1 Like

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by israelmao(m): 7:50am On Jul 19, 2018
First Bank has done a lot of pilfering to my account balance last I checked it,this attitude is not encouraging saving.

1 Like

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by 22General(m): 7:51am On Jul 19, 2018
Which side do they even stay and share all this money? Abacha loot... Ekiti money... Now this!
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Donald3d(m): 7:52am On Jul 19, 2018
grin grin
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Teewhy2: 7:53am On Jul 19, 2018
Who and where are the customers?
If you are part of the customers that got back those charges , kindly gather here for some selfie.
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by HoodBillionaire: 7:54am On Jul 19, 2018
God is never coming to Nigeria

1 Like

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by lenghtinny(m): 7:55am On Jul 19, 2018
Make dem send my own ooo


Union bank will deduct over 500 naira in a month and return 3 naira monthly interest angry

1 Like 1 Share

Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by DCTrendy(m): 7:56am On Jul 19, 2018
i never see my own too.
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by olaskul(m): 7:57am On Jul 19, 2018
Well I received over 36k from ANY ACCOUNT according to the alert wey dem send me.
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by xman4life: 7:58am On Jul 19, 2018
These banks are criminals! angry
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by erico2k2(m): 8:00am On Jul 19, 2018
MANNABBQGRILLS:
We asked the last time that where is the money?
Who don get alert?!
I did
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Jabioro: 8:00am On Jul 19, 2018
Story for the gullible gods..waiting for CBN alert..another avenue for the scammers explored.
Re: Illegal Deductions: CBN Returns N65bn To Bank Customers by Offpoint: 8:07am On Jul 19, 2018
And no Nigerian is yet to see any refund. it seems to me they don't know this is raining season and most thunders are back from their various training camps...



except the one whom task is till next year before it return to fire someone some refers as "number one citizen"

6 Likes

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