Saturday, December 4, 2021

How to Lodge Complaints to CBN Over Banks Unfair Practices

How to Lodge Complaints to CBN Over Banks Unfair Practices: The Central Bank of Nigeria (CBN) has provided information on how Nigerians can lodge complaints against their banks whenever they have issues regarding financial transactions.


Searching for where to report a bank for unfair practices to CBN? Do you want to get CBN Complaint email or twitter handle for reports of unsatisfied business with any Nigerian Banks? If then, this article will provide you with all information necessary.

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Lodge Complaints to CBN Over Banks Unfair Practices.

Bank transactions generally happen smoothly and with no issues, however there are times when the bank fails in its service to you, or there is some kind of issue which you need sorted. Due to the nature of the service the bank provides to you – dealing with your money, when things go wrong, it can indeed be an extremely frustrating and stressful time.

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Most banks have in place robust customer complaint/handling systems in place, and there is a structure in place for customers to channel any grievances, however most bank customers are not aware of this. That is why we have written this post, to briefly lay out the steps customers should follow when they want to make complaints about banks (or indeed any other financial institution).

Some of the issues bank customers face are unfair or unexplained charges, poor customer service by bank staff, unauthorized transactions on customer accounts through bank transfers or ATM withdrawals etc.

Bank transactions generally happen smoothly and with no issues, however there are times when the bank fails in its service to you, or there is some kind of issue which you need sorted. Due to the nature of the service the bank provides to you – dealing with your money, when things go wrong, it can indeed be an extremely frustrating and stressful time.

Most banks have in place robust customer complaint/handling systems in place, and there is a structure in place for customers to channel any grievances, however most bank customers are not aware of this. That is why we have written this post, to briefly lay out the steps customers should follow when they want to make complaints about banks (or indeed any other financial institution).

Some of the issues bank customers face are unfair or unexplained charges, poor customer service by bank staff, unauthorized transactions on customer accounts through bank transfers or ATM withdrawals etc.

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How to Lodge Complaints to CBN Over Banks Unfair Practices.

In a thread of thread posted on Twitter via its official Twitter handle, @cenbank, the apex bank provided tips on how to lodge complaints against the banks on various banking errors such as debit card related and funds transfer issues, excess charges, etc.

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How to lodge complaints to CBN on card related issues.

The CBN advises banks’ customers to wait for “72 hours for resolution after which you can contact the CBN by sending an email to cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226.”

How to report your banks to CBN on excess charges issues.

For banks’ customers who have excess charges issues, the CBN advised that they “allow 30 days for resolution, after which you can contact the CBN by sending an email to cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226”.

How to report account management issues to CBN.

The CBN advises banks customers with account management issues to “allow 14 days for resolution, after which you can contact the CBN by sending an email to cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226”.

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How to make it easy for CBN to intervene and resolve the issues.

To enable the CBN to do follow up, banks customers are advised to “insist on getting the Consumer Complaint Management System (CCMS) tracking number” from their banks after lodging a complaint”.


Alternative Step

You should also note, as an aside that the Federal Competition and Consumer Protection Commission is an available outlet for you to air your grievances. They may be able to assist you in putting pressure on the bank to resolve the complaint.


However, please note that as banks and other financial institutions are regulated by the CBN, the CBN is the only body with the responsibility for reviewing complaints from those institutions, and so any complaints should be channeled there.

Conclusion – How to report your bank when displeased.

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