CBN recovers N89bn excess bank charges, others

• Says, Nigeria’s financial system sound’

The Central Bank of Nigeria say it has so far recovered N89.2bn excess and illegal charges imposed on customers by banks in Nigeria.

The apex bank also said that Nigeria’s financial system is sound and stable, dispelling the rumors that it was becoming weak.

The CBN Governor, Godwin Emefiele, stated this in Calabar at a two- day public enlightenment fair, adding that the amount captured in June 2021 was based on 23,526 complaints they had received from customer on charges and other related matters.

He spoke through the Acting Director, Corporate Communications Department at the CBN, Osita Nwanisobi.

He added that the insinuations that the apex bank was planning to convert domiciliary/ dollar accounts to naira were false and unfounded.

The fair is targeted at keeping the public apprised and let them know the policies, programmes and economic interventions of the bank and how it benefits the people.

He stated, “We want Nigerians to know that we carry out “banking examinations” and the results show that our banks are in very good condition and our financial system is stable, resilient, safe and sound”.

“This sensitisation is part of ways to engage the people to understand how our polices, programmes and interventions are affecting them and as well as create a veritable platform to discuss and understand their challenges through their responses and feedbacks.”

On the customer complaints, he said, “What we do is that whenever we get these complaints, they are thoroughly investigated, if they are found to be true, the CBN makes sure that these customers are properly refunded and we have so far recovered N89bn.”