How To Report Your Bank When Displeased – CBN

The Central Bank of Nigeria has published guidelines to assist bank customers and other aggrieved persons or organizations on how to lodge complaints against any unfair practices by financial institutions regulated by it.

The financial institutions, according to the apex bank, are commercial banks, microfinance banks, primary mortgage institutions, and discount houses.

According to Punch newspaper, CBN noted that it had earlier issued a circular directing all banks to expand their existing ATM help desks to handle all types of consumer complaints.

"Therefore, if you have a complaint against your bank, you must first report the complaint at the bank/branch where the issue originated and then allow two weeks (it might be less or more in some cases) for the issues to be resolved," it said.

The bank reiterated that customers had the right to escalate any complaint to the Director, Consumer Protection Department of the CBN after lodging a complaint with the bank in question.

However, when the bank fails to acknowledge such a complaint within three days or issue a tracking number or fail to resolve the complaint within the timelines as stipulated by the Consumer Protection Regulation, the complainant should report such cases to the CBN.

The CBN advised customers to only reach out to the Consumer Protection Department (CPD) of the CBN when their financial institution fails to resolve the issue within the stipulated timeline.

The bank advised customers to contact the CPD through the following channel:

 "You can contact the CPD through the following channels: Consumer Protection Department, Garki, Abuja. Your letter of complaint should be addressed to the Director of the Consumer Protection Department. You can submit your letter at the CBN Head Office or at any of the CBN branches nationwide. "