5.7m in One Year: Access, Fidelity Top List of Nigerian Banks With the Highest Number of Customers Complaints

5.7m in One Year: Access, Fidelity Top List of Nigerian Banks With the Highest Number of Customers Complaints

  • The list of Nigerian banks with the most customer complaints in one year has been revealed
  • Access and Zenith Banks are at the top of the list, including eight other commercial banks
  • Electronic transactions have increased the number of customer complaints, reaching 5.3 million in 2021

Ten of Nigeria's top banks received 5.7 million customer complaints in a year, from January 1 to December 31, 2021.

The 2021 complaint figures represent a massive increase over the 2.69 million complaints received by banks from customers within the same period in 2020.

The 10 banks surveyed are Zenith, Guaranty Trust Bank, First City Monument Bank, United Bank of Africa, Access bank, Fidelity bank, Union bank, Sterling bank, Unity and Wema bank.

List of Nigerian banks with highest number of customer complaints
Bank customers withdraw from ATM Credit: Pius Utomi Ekpei
Source: Getty Images

The figures were arrived at after analysing the 2021 annual financial reports of the banks submitted to the Nigerian Exchange.

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Breakdown of Nigerian banks customer complaints

Legit.ng analysis of the banks' reports also showed that 583,702 of the 5.2 million customer complaints remained unresolved during the review period.

A breakdown of the figure for total unresolved complaints shows that Access bank leads the table in the number of complaints.

Access bank report showed it received a total of 2.1m complaints in a year, with 306,116 unresolved.

This is followed by the 907,715 received by Fidelity bank, of which 54,909 complaints are unresolved.

GT bank comes third in the number of customer complaints after recording a total of 673,772 complaints.

Out of this figure, only 1,605 were unresolved, an almost 100 per cent success rate.

List of banks and number of complaints

  • UBA. 464,391
  • Access 2,120,002
  • FCMB 298,437
  • Fidelity 907,715
  • GT 673,772
  • Sterling 204,342
  • Union 499,774
  • Unity 77,467
  • Wema 216,772
  • Zenith 307,537

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Banks with number of Unresolved complaints

  • UBA 3370
  • Access 306,116
  • FCMB 14,008
  • Fidelity 54,909
  • GT 1,605
  • Sterling 2,126
  • Union 13,566
  • Unity 7
  • Wema 21,681
  • Zenith 166,314

CBN reacts

When contacted for comments, Osita Nwanisobi, the Central Bank of Nigeria spokesperson, said bank customers with unresolved complaints should contact the apex bank.

He added,

"You can only direct your Complaints to CPD upon the failure of your Bank/Financial Institution to resolve your complaint within the 2 weeks timeline given by the CBN.” cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226. Customers can lodge a complaint directly on the CBN website via this link."


In a circular in 2018, The Punch reports that The Central Bank Of Nigeria Imposes Sanction Of N10, 000 On Instant (Inter-Bank) Electronic Funds Transfer Services In Nigeria

Part of the circular reads:

“A failed NIP transaction not reversed into customer’s account within 24 hours Based on complaints of sender and/or beneficiary? of N10,000.00 per item.”

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Zenith, Gtbank lead list of Nigeria's most valuable banks

Meanwhile, an earlier report by Legit.ng showed Zenith Bank kicked off 2022 as the most valuable commercial bank in Nigeria.

Guaranty Trust Bank is the second most valuable bank, followed by Stanbic IBTC Holdings to round out the top three most valuable banks.

In addition, the aggregate market cap of all the banks under review increased by N46.6 billion to N3.84 trillion.

Source: Legit.ng

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