₦airaland Forum

Nigerians have set aside Tuesday, March 1st to
boycott bank transactions and activities all over
the country in order to protest excessive charges
introduced by the Central Bank of Nigeria (CBN),
which banks are using as an avenue to extort
money from unsuspecting customers.


The boycott is being initiated by the Consumer
Advocacy Foundation of Nigeria (CAFON) and the
Coalition of Nigerian Consumer Protection
Associations.


According to CAFON founder Sola Salako, the
boycott is tagged as “No Banking Day” and is
aimed to register Nigerians’ anger over
outrageous charges on deposits, transfers and
withdrawals. Ms. Salako is asking Nigerians to
stay away from the banks on Tuesday and to shun
any transactions either on the counter or online
with any bank.


Ms. Salako then said that the CBN gave the
directive with a caveat that those charges are
negotiable but wondered why banks have refused
to give the opportunity to customers to negotiate
it.

“They just deduct money from our accounts
because they have access to it. The charges may
look small, but when you put them together they
add up to a lot. So they sit there and declare
huge profits at the end of the year,” she said.


Ms. Salako also noted that the banks have not
contributed anything meaningful to the country’s
economic quagmires and instead inflicted untold
hardship on common people through their
unethical practices.


The group described the charges as unacceptable,
“what we are saying is the boycott will let us
reduce their income for one day as a warning. If
we don’t patronize them they won’t be in
business. So respect us when we say this is not
acceptable to us,” Ms. Salako said.


Ms. Salako disclosed that the boycott is the first
phase of the protest and the group is planning to
take to the streets to pressure the banks and
relevant authorities to rescind their decision on
the outrageous charges


It will be recalled that public outcry has followed
the introduction of the Current Account
Maintenance fee by the CBN, saying that this
amounts to legalizing illegality. Many customers
have also complained about inconsistency of the
stamp duty charges from the Commission on
Turnover (COT).


saharareporters.com/2016/02/29/nigerians-boycott-banks-tuesday-over-excessive-charges

yes .pls what time are we starting. no bank day make I hear.

How much, l get for bank before wey, l no go participate? let's make the boycott a week sef.

OKDnigeria:
Nigerians have set aside Tuesday, March 1st to
boycott bank transactions and activities all over
the country in order to protest excessive charges
introduced by the Central Bank of Nigeria (CBN),
which banks are using as an avenue to extort
money from unsuspecting customers.


The boycott is being initiated by the Consumer
Advocacy Foundation of Nigeria (CAFON) and the
Coalition of Nigerian Consumer Protection
Associations.


According to CAFON founder Sola Salako, the
boycott is tagged as “No Banking Day” and is
aimed to register Nigerians’ anger over
outrageous charges on deposits, transfers and
withdrawals. Ms. Salako is asking Nigerians to
stay away from the banks on Tuesday and to shun
any transactions either on the counter or online
with any bank.


Ms. Salako then said that the CBN gave the
directive with a caveat that those charges are
negotiable but wondered why banks have refused
to give the opportunity to customers to negotiate
it.

“They just deduct money from our accounts
because they have access to it. The charges may
look small, but when you put them together they
add up to a lot. So they sit there and declare
huge profits at the end of the year,” she said.


Ms. Salako also noted that the banks have not
contributed anything meaningful to the country’s
economic quagmires and instead inflicted untold
hardship on common people through their
unethical practices.


The group described the charges as unacceptable,
“what we are saying is the boycott will let us
reduce their income for one day as a warning. If
we don’t patronize them they won’t be in
business. So respect us when we say this is not
acceptable to us,” Ms. Salako said.


Ms. Salako disclosed that the boycott is the first
phase of the protest and the group is planning to
take to the streets to pressure the banks and
relevant authorities to rescind their decision on
the outrageous charges


It will be recalled that public outcry has followed
the introduction of the Current Account
Maintenance fee by the CBN, saying that this
amounts to legalizing illegality. Many customers
have also complained about inconsistency of the
stamp duty charges from the Commission on
Turnover (COT).


saharareporters.com/2016/02/29/nigerians-boycott-banks-tuesday-over-excessive-charges

Southwest brought this upon themselves, mek them enjoy their much anticipated change by saint bruharii..... Nothing concern me

Better fix another day if you want people to obey because Tuesday is 1st of the month which is the day most salary earners will receive their pay.

Banks go even happy say una no withdraw cash from atm sef.

If I hear say my typical ipob friends no go bank

I won't bank as long as my alawee no enter today. If alawee should roll, pls excuse we naija corpers cus we are bound to serve our fathers bank today

Haba madam you wan boycott your money, haha to whose detriment na?