Numerous bank customers have bemoaned the disappearance of funds from their accounts.
Several people have yet to receive their money back from their banks, however some have received resolution from their banks.
These measures will assist you get the Central Bank of Nigeria’s attention if your bank refuses to repay your money.
When to complain to the CBN about your bank
This essay is predicated on the idea that you’ve already complained to your bank but it doesn’t appear that anything has changed.
The CBN anticipates that the customer will file a complaint with the bank or branch where the problem first occurred and then give the matter somewhere between two weeks and one month to be resolved.
A complaint must be reported to the CBN’s Consumer Protection Department (CPD) if the bank does not respond to the consumer within two weeks or thirty days, as the case may be.
CBN’s Consumer Protection Department’s contact
All complaints against financial institutions, including commercial banks, microfinance banks, discount stores, and primary mortgage institutions, are handled by the CPD.
The CPD can be contacted via the following channels:
Email: [email protected]
Phone call: +234 7002255226
Customers can lodge a complaint directly on the CBN website via this link.
Letter: Director, Consumer Protection Department, Central Bank of Nigeria, Central Business District, Abuja.
Note: Your letter can be submitted at the CBN headquarters mentioned above or at any of its branches nationwide.
How to write a concise and effective complaints letter to CBN
The CBN recommends that your letter must be concise and direct, containing the following information:
Name, Address, Contact Phone Number & E-mail of the Complainant;
Name of your Financial Institution;
Personal banking details (Do NOT include PIN & Passwords, please;)
History/Date of the transaction in dispute;
Amount claimed (if any);
Attach relevant documents to support your claim and;
Evidence to show that you have first lodged the complaint at your bank.
Strangely, the CBN does not provide a timeframe for when your complaint will be resolved, however it is anticipated that this will happen as soon as is reasonable.
While the CBN works to address a customer’s complaint, it also has the authority to sanction a bank for failing to do so successfully.
Discussion about this post