The Central Bank of Nigeria has revealed that banks operating in the country have refunded about N7.05bn and $714,569.03 to customers following its intervention.
This was disclosed on Tuesday in the apex bank’s monthly bulletin, CBN UPDATE September Special Edition published on its website.
Sharing the scorecard for the first anniversary of Olayemi Cardoso’s assumption of office as the governor of the Central Bank, it was stated that while carrying out their other duties, “Cardoso and his team have also focused on protecting customer rights.”
It noted, “In just one year, they have addressed 19,988 customer complaints within eight months. Of these, 15,306 complaints—representing 76.58 per cent—were successfully resolved.
‘’During this time, the bank facilitated refunds totalling approximately N7.05bn and $714,569.03 to customers in disputes with financial service providers, underscoring its commitment to fair treatment. The CBN has also rigorously enforced sanctions to ensure compliance, deter unethical behaviour, and enhance transparency within the financial sector.”
President Bola Tinubu in September 2023 approved the nomination of Cardoso as the new Governor of the Central Bank of Nigeria for a term of five years at the first instance, pending his confirmation by the Senate.
