CBN complaint mailbox reaches full capacity, as bank customers seek help over rising failed transactions

LEGIT

The Consumer Protection Department (CPD) email (cpd@cbn.gov.ng) of the Central Bank of Nigeria (CBN) has become overwhelmed with a large volume of complaints, causing a full mailbox. Although it is expected to be resolved the email overload indicates the growing challenges faced by bank customers carrying out transactions through electronic channels. 

The complaints range from failed ATM transactions to unauthorized debits and undelivered funds. 

CBN rules on making complaints Bank customers have been consistently advised by the CBN that if financial institutions under its regulation are unable to resolve complaints, they may escalate their grievances through the CBN’s Consumer Protection Department (CPD).

CBN instruction is that customers can make complaints: 72 hours for Card related and Funds Transfer complaints; 14 days for Account Management complaints; and 30 days for Excess Charges complaints. 

Legit.ng had earlier provided a guideline on how bank customers can complain to CBN un unresolved issues. Nigerian banks with the highest number of customers complaints

 In another report, it was revealed that ten Nigerian banks received a total of 5.7 million customer complaints. 

The surveyed banks include First City Monument Bank, Guaranty Trust Bank, Unity Bank, Zenith Bank, Access Bank, Wema Bank, Union Bank, United Bank for Africa, Sterling Bank, and Fidelity Bank.