2,256 Nigerian Depositors Petition Banks Over N546 Billion Charges
- Excess Bank charges, wrong withdrawals and other complaints were what amounted to over N546 billion worth of charges from over 2,000 bank depositors in Nigeria in 2021
- The Chartered Institute Bankers of Nigeria (CIBN) stated that its ethics and governance committee received other complaints totaling about $428.7 million in the same period
- The Institute said that it is committed to ensuring the entrenchment of corporate governance in the banking industry
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About 2,256 bank depositors in Nigeria have laid complaints on transactions amounting to N268.9 billion and $428.7 million, which is over N177.05 billion on their various accounts against their banks with the Chartered Institute of Bankers of Nigeria (CIBN).
According to the ethics and governance directorate of the Institute, about 2206 cases have been resolved.
Source: Getty Images
Awarded cases amounted to over N30 billion
It also awarded about N30.65 billion on the cases and $19.48 billion since the tribunal began sitting.
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The Punch reports that the Institute revealed this in its 2021 annual report released on Saturday, April 9, 2022, in Lagos.
The CIBN said it got over 35 petitions with N4,3 billion in 2021 and resolved 17 cases of such petitions.
Committed to professionalism and ethics
The outgoing president of CIBN and Chairman of the Tribunal, Bayo Olugbemi said the Institute is committed to promoting banking education and professionalism in the country and the world.
Olugbemi revealed that members of the Institute grew from 144,922 as of April 2021 to 149,967 in March 2022, which accounts to an increase of 3.5 per cent from the year before.
He said the number of individual members of the institute grew from 144,922 as of April 30, 2021, to 149,967 as of March 24, 2022, representing an increase of 3.5 per cent over the previous year.
Chocked by excess bank charges, Nigerians turn to digital banks and wallets
Legit.ng has reported that Excess bank charges are choking bank customers and businesses in Nigeria. In protest or search for alternatives, they are turning in droves to digital banks. Blessing Akuakanwa said in a Facebook post
Like every other Nigerian who finds the banks’ excess charges irrational, Akuakanwa decided to opt for a digital bank. According to her, she would still maintain a skeletal presence in her traditional banks.
For the majority of Nigerians, the digital banks that are mostly branchless, the option of not having to pay any fee on a transaction, is a huge lure and relief.
Source: Legit.ng
