CBN releases new guideline for lodging complaints to banks

image

BY ABUBAKAR H. MUHAMMAD, JANUARY 31, 2022 | 11:50 AM


Central Bank of Nigeria, CBN, has released new guidelines and procedures for lodging complaints to banks by customers.

The apex bank said the guidelines apply to all commercial banks, microfinance banks, primary mortgage institutions and discount houses.

It directed that all banks to expand their existing automated teller machines, ATM, and help desks, so that they can register all kinds of complaints from their customers.

In case of failure to respond by a bank when such complaints are lodged through the platforms, CBN noted that the customer can extend the complaint to them, through its director, consumer protection department, CPD.

It explained that this can be done when the bank fails to acknowledge the complaint within three days or issue a tracking number, or fails to resolve it within the timelines stipulated by CPD.

However, it added that the complaint most be lodged at the primary bank’s platform.

‘Therefore, if you have a complaint against your bank, you must first report the complaint at the bank/branch where the issue originated and then allow two weeks (it might be less or more in some cases) for the issues to be resolved.

‘You can only direct your complaints to CPD upon the failure of your bank/financial institution to resolve your complaint within the timeline stipulated by the Consumer Protection Regulation.

‘You can contact the CPD through the following channels: Consumer Protection Department, Garki, Abuja. 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 CBN branches nationwide,’ CBN explained.


Appeal for support


Conflict Reporting is dangerous and risky. Our reporters constantly face life-threatening challenges, sometimes surviving ambushes, kidnap attempts and attacks by the whiskers as they travel and go into communities to get authentic and firsthand information. But we dare it every day, nonetheless, in order to keep you informed of the true situation of the victims, the trends in the conflicts and ultimately help in peace building processes. But these come at huge cost to us. We are therefore appealing to you to help our cause by donating to us through any of the following means. You can also donate working tools, which are even more primary to our work. We thank you sincerely as you help our cause.

Alternatively, you can also email us on info@yen.ng or message us
via +234 803 931 7767