CBN advises Nigerians to report excessive bank charges

The Central Bank of Nigeria (CBN) has asked banks' customers to report cases of excessive and illegal charges by Deposit money Bank.

This was revealed in a statement by the apex bank's spokesman, Ibrahim Mu'azu, who said the CBN had been receiving complaints from customers of such banks over excessive charges. He added that the CBN would not condone activities of banks who violate the stipulations of the Revised Guide to Bank charges which specified allowable charges for all banking services.

Mu'azu said, "It was in the quest to provide a strong voice to banks' customers and moderate arbitrary charges that the CBN in 2012, established its Consumer Protection Department."

He urged customers to forward their complaints to the Director, Consumer Protection Department through an email - cpd@cbn.gov.ng