Lagos - The Central Bank of Nigeria (CBN) has disclosed that banks’ depositors filed a total of 4 142 fraud related petitions against banks between March 2010 and May, 2014.
The petitions bordered on excess charges, unauthorised deductions, dishonoured cheques, cheque conversion, foreign remittances and Automated Teller Machine (ATM) frauds, reports The Nation.
Excess charges by banks constituted over 50 percent of cumulative petitions submitted by depositors.
Umma Dutse, Director, Consumer Protection Department of CBN, said failure to adhere to the provisions of extant guidelines and agreements were some of the factors that led to the petitions.
Read more at The Nation.
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