Lagos - Many banks have failed to comply with the Central Bank of Nigeria (CBN) order to refund excess Commission on Turnover (Cot) charges to their respective customers.
Investigations by BusinessWorld showed that only a few banks have complied with the CBN directive.
Many banks according to the findings are unwilling to refund the illegal fees charged customers over a period of one year.
The apex bank had on June 11 ordered Deposit Money Banks to refund CoT charges above the regulatory maximum to customers.
Read more at BusinessWorld
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