• Thursday Jan 24

Depositors groan as banks get richer with illegal charges

Depositors groan as banks get richer with illegal charges

Depositors groan as banks get richer with illegal charges   1053

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Depositors groan as banks get richer with illegal charges

While many money disputes between banks and their customers are never reported, latest records have revealed that between January and June this year, 1,439 displeased depositors reported their banks to the Central Bank of Nigeria over illegal charges and unresolved complaints regarding total claims of N20.5bn, $163,479, £2,889.98 and €32.82, NIKE POPOOLA reports

For many years, a lot of bank customers have been losing parts of their deposits to their banks for faults that are not usually theirs.

It has been discovered that often times when depositors complained to their banks, their grievances were seldom addressed.

According to many customers, when they approached the banks, they were usually asked to fill forms, but they never got any response.

When the customers felt that they did not have what it takes to fight their banks, they gave up on their lost deposits.

But records have revealed that some displeased depositors who refused to be cheated and were ready for a showdown with their banks, actually got their monies back.

For instance, a displeased bank customer, Kemi Ibrahim, said a transfer of N250,000 that she made was not successful, but the money was not reversed.

“After three months of going to my bank and it was not resolved, someone told me he had read in the papers that I could report to the CBN. I went to the CBN office and I was put through on how to lodge my complaint. That was how I got my money back with CBN’s intervention.”

The Subcommittee on Ethics and Professionalism of the Bankers’ Committee also complements the CBN’s efforts in complaints and dispute resolution.

However, the subcommittee does not interfere in cases already being handled by the CBN or currently in court.

The Registrar, Chartered Institute of Bankers of Nigeria, Seye Awojobi, said the subcommittee had resolved more than 2,500 complaints of depositors brought before the subcommittee in the past 18 years.

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