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How To Report Your Financial Institution To The CBN - Business - Nairaland

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How To Report Your Financial Institution To The CBN by DoggoneDogg: 4:22pm On Apr 25
By Ubah Jeremiah Ifeanyi

Many Nigerian bank consumers often lament the difficulty and stress they usually go through while trying to bank account related issues resolved by their banks. From excess charges to unapproved debits, to account freezes, angry customers storm the bank daily in effort to resolve these and more issues.

Given the harsh economic realities of rising food prices combined with mounting economic despair, it’s understandable that customers may become frustrated and enraged if their bank account difficulties are not resolved quickly.

It is recommended that you exercise patience with your bank, but if all options have been exhausted while trying to resolve problems with your bank, here are a few steps to take to draw the attention of the apex bank to the matter.



What you should know
1. The Nigerian banking sector is one of the most closely regulated sectors in the country because it plays such an important part in the country’s economic growth.

2. The Central Bank of Nigeria (CBN), as Nigeria’s apex bank and principal regulator of the banking sector, has undertaken a number of reforms and policies over the years to ensure that the Nigerian banking sector stays stable and capable of generating economic efficiency and promoting trust with the public.

3. The main legislation that establishes the regulatory framework for banking activity in Nigeria is BOFIA 2020. It establishes the CBN’s regulatory and supervisory authority over Nigerian banks, including the granting and revocation of banking licenses, the establishment and closure of bank branches, bank restructuring and reorganization.


How to lodge a complaint with the CBN
The CBN advises customers to give deposit money banks at least two weeks to resolve any issues. Hence, if the problem hasn’t been resolved in two weeks, then they have a solid footing to progress.

“If after lodging your complaint your Bank still fails to engage you and resolve the complaint within 2 Weeks as provided for in the ATM HELP DESK Circular, you have the right to escalate your complaint to the Consumer Protection Department (CPD) of the CBN.

“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,” the apex bank said.

The apex financial regulator said customers can contact the CPD by sending an email to cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226.

Customers can lodge a complaint directly on the CBN website via this link.

Customers can also write a letter to the director of the Consumer Protection Department in Abuja’s Central Business District.

“Your letter of Complaint should be addressed to the Director, Consumer Protection Department. You can submit your letter at the CBN Head Office OR at any of the Central Bank of Nigeria branches of nationwide,” the CBN added.

“Your complaint should be clear and concise to avoid ambiguity. The Complaint letter (petition) should contain amongst other things the following:


1. Name, Address, Contact Phone Number & E-mail of the Complainant;
2. Name of your Financial Institution;
3. Personal banking details (Do NOT include PIN & Passwords, pleasewink
4. History/Date of the transaction in dispute;
5. Amount claimed (if any);
6. Attach relevant documents to support your claim and;
7. Evidence to show that you have first lodged the complaint at your bank.


You can make your further inquiries and obtain additional information on the Complaints Handling Process of the Central Bank of Nigeria from the Complaints Unit of your Bank/Financial Institution or from CBN offices nationwide.

Source: Nairametrics

34 Likes 14 Shares

Re: How To Report Your Financial Institution To The CBN by Jamesmadisson(m): 5:47pm On Apr 25
Good updates

4 Likes 1 Share

Re: How To Report Your Financial Institution To The CBN by davidupdate89: 5:48pm On Apr 25
Re: How To Report Your Financial Institution To The CBN by BoluwatifeNG(f): 5:48pm On Apr 25
Correct


Jamesmadisson:
Please don’t give out your BVN, this is how your bank account get hacked.



https://www.youtube.com/watch?v=WFJcndxUln0
Re: How To Report Your Financial Institution To The CBN by marshalldgreat(m): 5:48pm On Apr 25
Nice one
Re: How To Report Your Financial Institution To The CBN by Freeko4: 5:48pm On Apr 25
Ok

1 Like 1 Share

Re: How To Report Your Financial Institution To The CBN by NotKnown: 5:49pm On Apr 25
About time
Re: How To Report Your Financial Institution To The CBN by espn(m): 5:49pm On Apr 25
I need this...
Re: How To Report Your Financial Institution To The CBN by Realestatevixen: 5:49pm On Apr 25
Nice one

1 Like

Re: How To Report Your Financial Institution To The CBN by olaadenigeria(m): 5:49pm On Apr 25
Ok
Re: How To Report Your Financial Institution To The CBN by MonkeyMods(m): 5:50pm On Apr 25
All for people to think they're working


Make I bend if they respond to your complaints


Ordinary complaints for banks they won't answer you na CBN

22 Likes 2 Shares

Re: How To Report Your Financial Institution To The CBN by Balaking: 5:50pm On Apr 25
Nice info
Re: How To Report Your Financial Institution To The CBN by Maj196(m): 5:50pm On Apr 25
GTBank must collect. Thieves

14 Likes

Re: How To Report Your Financial Institution To The CBN by obembet(f): 5:50pm On Apr 25
Nice thread

1 Like

Re: How To Report Your Financial Institution To The CBN by wwwtortoise(m): 5:50pm On Apr 25
I remember mailing Accessbank over a hanging unreversed transaction which I was debited. Wrote them twice without getting feedback.

Google search led me to the cbn address cpd@cbn.gov.ng. I wrote them again this time with cbn in cc.

In less than 2hours I got feedback with a promise to check and resolve the issue swifty.

They eventually did the next day.

Everyone na weyrey for this con3. If you snooze you lose.

42 Likes 2 Shares

Re: How To Report Your Financial Institution To The CBN by MorataFC: 5:51pm On Apr 25
Good to know
Re: How To Report Your Financial Institution To The CBN by yahwehpickin(m): 5:51pm On Apr 25
I have been using that cbn email. Omo banks dey fear customers wey report to cbn. The way dem go reverse the money eh e go shock you.

11 Likes 1 Share

Re: How To Report Your Financial Institution To The CBN by Emmy3(m): 5:53pm On Apr 25
If not for laziness and ignorance on the part of some FCMB customers;
CBN would have heavy sanctioned them for their illegalities and wickedness.

2 Likes

Re: How To Report Your Financial Institution To The CBN by mytime24(f): 5:54pm On Apr 25
K
Re: How To Report Your Financial Institution To The CBN by omorttee4u(m): 5:54pm On Apr 25
Nice one!
Re: How To Report Your Financial Institution To The CBN by Wapgod(m): 5:56pm On Apr 25
Re: How To Report Your Financial Institution To The CBN by princeemmma(m): 5:56pm On Apr 25
Noted....


Bank these days don't even have respect for there customers again ......... The way dem dey treat customers eehn

na so i enter bank one day because i lost my sim phone, and i had to change my alert sim card................

Na so this girl dey tell me say as old as i am, i dey lost phone ....... na so she throw the form for ground make i pick........... That day was her lucky day...

Now wey we don know how give dem uppercut, no wahala

5 Likes 2 Shares

Re: How To Report Your Financial Institution To The CBN by demzey(m): 5:59pm On Apr 25
Lol, i don't even know whether to say nice or not nice....would they even revert?
Re: How To Report Your Financial Institution To The CBN by SageTravels: 6:00pm On Apr 25
I need this
Re: How To Report Your Financial Institution To The CBN by demzey(m): 6:03pm On Apr 25
Emmy3:
If not for laziness and ignorance on the part of some FCMB customers;
CBN would have heavy sanctioned them for their illegalities and wickedness.

That is it, 2 out of every 10 complainants would be willing to go that extra mile, the other 8 sees it as a waste of time, having the stereotype "all of them na the same"
Re: How To Report Your Financial Institution To The CBN by Chris2chris: 6:03pm On Apr 25
When calling the number if not fraud be wise.

1 Like 1 Share

Re: How To Report Your Financial Institution To The CBN by demzey(m): 6:06pm On Apr 25
yahwehpickin:
I have been using that cbn email. Omo banks dey fear customers wey report to cbn. The way dem go reverse the money eh e go shock you.

Hmm I doubt bro, have people not gotten their money reversed immediately despite not mailing CBN? These things are automated
Re: How To Report Your Financial Institution To The CBN by baralatie(m): 6:07pm On Apr 25
Access bank will be number 1

3 Likes

Re: How To Report Your Financial Institution To The CBN by KillJoy62(m): 6:14pm On Apr 25
DoggoneDogg:
By Ubah Jeremiah Ifeanyi



Source: Nairametrics
I once used this method was around 2018, when my bank deliberately refused to refund my seized money through pos transactions that failed, after series of complain to my bank, for almost two months or there about, I then sent a mail to CBN/CPD and in two days all my money was refunded. But I sent the mail along side with my proof of transaction.

11 Likes 1 Share

Re: How To Report Your Financial Institution To The CBN by yahwehpickin(m): 6:17pm On Apr 25
demzey:


Hmm I doubt bro, have people not gotten their money reversed immediately despite not mailing CBN? These things are automated

I have helped friends recover their funds. On was like 1 month the bank didn't reverse the money untill we emailed cbn with credible proof.

Back has not done you something abi? Well this cbn stuff was trending on Twitter like 2 to 3 years ago, that was how I knew about it and it worked. CBN dey bill these Bank for the failure of these transactions. Why do you think it keeps the banks on their toes

11 Likes 1 Share

Re: How To Report Your Financial Institution To The CBN by babaalagbo11(m): 6:18pm On Apr 25
Nice one...Gtb take note awon werey

1 Like

Re: How To Report Your Financial Institution To The CBN by spafu(m): 6:18pm On Apr 25
Ok

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