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

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

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.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.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.

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https://nairametrics.com/2022/04/25/tired-of-bank-issues-here-is-how-to-report-your-bank-to-the-cbn/