Tuesday, February 7, 2023

Banks refunded N89.2 billion illegally taken customers money, says CBN governor Emefiele

CBN governor Godwin Emefiele said the monies were returned after customers’ complaints.

• August 5, 2021
CBN Godwin Emefiele (credit: Bloomberg)
CBN Governor, Godwin Emefiele (credit: Bloomberg)

As of June ending, Nigerian banks had refunded N89.2 billion customers money illegally taken, claims Central Bank governor Godwin Emefiele on Thursday.

Mr Emefiele, who spoke at a CBN Fair held simultaneously in Cross River and Akwa Ibom, said the monies were returned after customers’ complaints.

Represented by Osita Nwanisobi, spokesman for the CBN, the governor said the cumulative number of complaints from customers of banks as of June was 23,526 while 22,173 were resolved.

According to him, the fair became necessary to create awareness on CBN interventions and how it was impacting on the lives and businesses of the people.

“When the CBN governor assumed duty as the 11th governor of the apex bank, he made a profound statement that he wants a people centred CBN and you cannot have that if you do not engage.

“Also, CBN has about 37 targeted interventions which includes The Targeted Credit Facility, Health Sector Intervention, Commercial Agric Credit Scheme, Nigerian Electricity Market Stabilisation Fund and others.

“In addition, we want to use this opportunity to build the confidence of Nigerians that the nation’s financial institutions are resilient, stable and safe.

“Nigerians have nothing to fear as the CBN carries out a periodic examination of the banks,” he said.

On the issue of digital currency by the CBN, the governor asserted that Nigerians needed to understand that crypto currencies are issued by unknown entities without regulations.

He added that the digital currency which CBN intends to issue would be regulated by the apex bank and it can be used for the nation’s monetary policy.

In his remarks, Daramola Atanda, Head, Consumer Protection Department of the CBN, noted that Nigerians must know their rights as customers and report cases of violations to the CBN on 07002255226 or cpd@cbn.gov.ng.

Mr Atanda however asked bank customers to be responsible as there were issues that were in their own purview; such as understanding the package given to them by a bank.

He also appealed to customers to ensure that they repay their loans and also protect their financial instruments such as their debit cards and others.

Speaking virtually from Uyo, Amina Abdulmalik from the Currency Operations Department of the CBN, called on Nigerians to handle the naira with care as it was a national pride.

“Our naira notes are supposed to last for about two years after printing but due to poor handling, some of them do not last for more than three months,” she said.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

World

Thousands protest over Denmark’s move to abolish Christian holiday

The Christian holiday that falls on the fourth Friday after Easter dates to 1686.

Lagos

UK ambassador lauds NRC legacy documentation

NRC is partnering Oxford University to document the corporation’s legacy.

World

Google launches Bard AI to rival ChatGPT

Google is coming out soon with its version of ChatGPT called Bard.


Bola Tinubu and Buhari in Jos

States

After Buhari, it’s Tinubu’s turn to be president: Akeredolu

According to Mr Akeredolu, Bola Tinubu has the pedigree to transform Nigeria.

Oil rig

Economy

NUPRC gazettes five oil industry regulations

The Nigerian Upstream Petroleum Regulatory Commission has gazetted five petroleum industry regulations.

President Muhammadu Buhari/Atiku Abubakar

Economy

Atiku tells Buhari not to make Nigerians scapegoats of poorly implemented naira policy

Atiku Abubakar said the new naira notes’ introduction was badly managed.