Central Bank of Nigeria (CBN) said on Wednesday it has recovered over N50 billion from banks in excess charges imposed on customers in the last three years, as part of its efforts to protect bank customers from undue exploitation.
This amount, the CBN said has been returned to bank customers who suffered from these excessive charges.
Isaac Okorafor, acting director of Corporate Communications at the CBN, said the apex bank was committed to ensuring that bank customers are not burdened with excessive charges from their banks.
He spoke at the ongoing Abuja International Trade fair and urged bank customers to go to the CBN website to see the approved charges required by banks.
Besides visiting the website, Okorafor advised the banking public to report excessive charges they feel their banks had imposed on them.
“We have always asked bank customers to report all cases of suspected illegal and excessive charges they feel their banks may have imposed on them. Bank customers must ensure they visit the CBN website to see the approved charges banks are expected to make of their customers,” Mr. Okorafor said.
Reviewing other activities by the CBN to grow the economy and create jobs, Mr. Okorafor said so far about N43.92 billion has been disbursed to local farmers under the Anchor Borrowers Programme, ABP, its agricultural intervention initiative.