CBN Complaint Mailbox Reaches Full Capacity, as Bank Customers Seek Help Over Rising Failed Transactions
- The Central Bank of Nigeria email system cannot receive any more emails due to a full mailbox
- A flood of failed transactions and bank customer complaints caused the overload
- Many customers have been unsuccessful in resolving their issues with their respective banks and have turned to the CBN for help
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The Consumer Protection Department (CPD) email (cpd@cbn.gov.ng) of the Central Bank of Nigeria (CBN) has become overwhelmed with a large volume of complaints, causing its mailbox to be full.
Although they are expected to be resolved, the email overload indicates the growing challenges bank customers face carrying out transactions through electronic channels.
The complaints range from failed ATM transactions to unauthorised debits and undelivered funds.
Source: Facebook
CBN rules on making complaints
The CBN has consistently advised bank customers that if financial institutions under its regulation cannot resolve complaints, they may escalate their grievances through the CBN's Consumer Protection Department (CPD).
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CBN instruction is that customers can make complaints:
- 72 hours for Card related and Funds Transfer complaints;
- 14 days for Account Management complaints; and
- 30 days for Excess Charges complaints.
Legit.ng had earlier provided a guideline on how bank customers can complain to CBN about unresolved issues.
Nigerian banks with the highest number of customers complaints
Another report revealed that 10 Nigerian banks received 5.7 million customer complaints.
The surveyed banks include First City Monument Bank, Guaranty Trust Bank, Unity Bank, Zenith Bank, Access Bank, Wema Bank, Union Bank, United Bank for Africa, Sterling Bank, and Fidelity Bank.
Banks and number of customers complaints as at 2021
- 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
"Zenith *966*60#": Banks release codes for cardless cash withdrawal at ATMs
Meanwhile, in another report, Legit.ng revealed that commercial banks in Nigeria had introduced cardless ATM cash withdrawals.
To collect cash from an ATM without using a card, customers must generate a code on their mobile phones or through their mobile banking app.
The latest innovation in banking technology preaches convenience and comes when Nigerians are battling with cash scarcity.
Source: Legit.ng
