Based on a random sampling conducted from social media, Instagram to be precise, The Nigerian Banking system seems to have failed Nigerians to a very large extent

Calculations show that there are over ten frequently used banks in the country, and Nigerians feel that the services rendered by these banks are nothing to write home about. Not to be considered as a silver lining to this topic but, regardless of the poor services — Nigerians feel are being rendered– they do applaud the infrastructure of the banks. But logically speaking, of what relevance is it to look good on the outside and completely next-to-awful on the inside.

According to our analysis, there are 17 frequently used banks in the country. It didn’t even seem that much till we started counting the numbers. Although there are a lot of them, some are used more than others, and some received a lot more intense backlashes for being presentable on the outside and annoying ridiculous when it comes to the delivery of its content.

The respondents, however, did have a few valid reasons for why the services are unacceptable; Reasons such as staff incompetency and disrespectful attendants. Some also stated the unwarranted debit for card maintenance, even on credit cards that were “supposedly” blocked by the bank. So why they are being debited remains a mystery to them. Some other side comments were as regards to the delays of receiving a credit alert, consistently faulty ATMs, being debited without making any withdrawal or transaction and the likes.

Nonetheless, here is what we were able to find out. We would take this from the least backlashed bank to the most lashed one.



Turn out of the Analysis

Sterling Bank was mentioned the least based on the responses given by the respondents, People had more good things to say than bad, or probably because sterling is one of the less-used banks in the country, however, they came up with an aggregate of 0.51% and that’s the least.

Next in line is Union Bank. People rarely had anything to say about the bank, so it could pass also as a less-used bank. However, It came up with a 0.64% aggregate for bad services.

Stanbic IBTC came with a 0.90% aggregate. Not a lot was said about the bank as well. It was observed from our analysis that the banks that were least mentioned have a minimum consumer base. So, therefore, saying they’re bad or have poor services might not be very adequate.

Keystone bank attained an aggregate of 1.29%. If you pay attention closely, you would observe that the figures keep increasing like a scale of preference. From the least to the most. Again, not much was said about Keystone bank.

Another bank that surfaced a few times is Heritage bank, with 1.93% of people who think they deliver poor services.

Wema bank. Funny enough, one would think that this bank is not in existence anymore because you rarely see any units or hear about them. Surprisingly it came up a few times, and to our greatest surprise, it came up more times than Stanbic IBTC. That’s something you can chew on. Either way, it has a 2.06%

Polaris bank, which is one of the banks that came to existence in recent times, and it appears to be struggling for the position of bad services with a percentage of 2.19%

Zenith Bank. Can as well be considered as a legend bank. But are you really a legend if you cannot hold your totem up properly as a bank that offers proper and distinguished services? It has a 2.57% aggregate of users who think they are not capable.

Then EcoBank, “The Pan African Bank ” is it really though? It has a 3.22% complaint rate.

FCMB did come up a few times as well with a 5.15% of complaints about bad services, or one might add that the ‘curtains do not match the drapes’. DiamondAccess also had the same complaint rate as FCMB, 5.15%. For DiamondAccess, you might say maybe the merger is a determining factor for why they dispense poor services.

There is also the majority who feel All banks are terrible and they have a 5.15% along with FCMB and Diamond Access.

Fidelity bank did surface with a 5.40% aggregate.

UBA, “more than just a bank” Well a lot of Nigerians disagree with that as it attained a 7.8% aggregate.

First Bank, Guaranty Trust Bank (GTB), and Access Bank came up top of their class with the most dissatisfied customers. Of course, one would expect so considering that both banks account for the highest number of customers; 12 million, 8 million, and 36 million respectively.

First Bank had 8.24% aggregate, GT Bank had 11.84% and for the Big one, Access bank was mentioned the most, with a 29.73% aggregate. Based on this analysis from randomly sampling Instagram responses, it came to the conclusion that Access banks appear to currently be the most dreaded bank in Nigeria.

SOURCE: https://www.askifa.ng/the-nigerian-banking-system-vs-customer-dissatisfaction/