CBN Recovers N6.2bn Excess Charges From Banks

The Central Bank of Nigeria on Saturday said it had recovered about N6.2bn from Deposit Money Banks as excessive charges imposed on their customers in 2015.The apex bank in a statement issued by the Director, Corporate Communications Department, CBN, Muazu Ibrahim, warned banks

against imposing illegal charges on their customers.The CBN in the statement said it was concerned about the rising number of complaints bordering on excessive bank charges, noting that in 2015 alone, the apex bank investigated about 6,000 of such cases.It said the apex bank would continue to
enforce the revised guidelines on bank charges stating that any customer who has been illegally charged should make a complaint at the Consumer Protection Department of the CBN.
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