Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


CBN refunds N10bn arbitrary charges to customers

04 December 2013, 16:14

Uyo - The Central Bank of Nigeria (CBN), announced on Tuesday that it had refunded N10 billion to commercial bank customers between 2012 and September 2013.

Ibrahim Hassan, Assistant Director, Consumer Protection Department of CBN, announced this on the sideline of the ongoing Workshop for Financial Journalists in Uyo.

Hassan said the money was the arbitrary charges on customers’ accounts in the commercial banks.

He explained that CBN's regulatory frameworks provided that erring banks were sanctioned

He urged customers who experienced arbitrary charges on their accounts to resolve the issue first with their banks before thinking of coming to the CBN.

Hassan said CBN would only intervene two weeks after customers had lodged complaints with erring banks.

He said there were testimonies from people who had benefited from CBN’s intervention.

The assistant director, however, observed that only few Nigerians had embraced the financial inclusion policy of the bank.

He said the reasons behind the resistance to the new financial and banking processes were due to past experiences with old banks.

“We want to ensure that more Nigerians participate in financial inclusion so that they can benefit from it. Embracing it will lead to national economic growth.’’

-    NAN


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...