Categories: Featured Top Stories

CBN Guidelines To Lodge Complaints Against Any Financial Institution

Advertisement
Advertisement

CBN guidelines to lodge complaints against any financial institution in Nigeria.

 

NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has released a guide on how and where bank customers can lodge a complaint against any Financial Institutions regulated by the apex bank.

 

This Nigeria news platform understands that financial institutions regulated by the CBN include Commercial Banks, Microfinance Banks, Primary Mortgage Institutions, and Discount Houses.

 

In an infographic published via its official X (formerly Twitter) handle on Wednesday, the apex bank explained in detail how financial-related cases can be handled and the processes involved for the customers.

 

The CBN Infographic reads:

Contact Your Institution First: The Central Bank of Nigeria (CBN) issued a circular in 2021 directing all banks to expand their existing ATM HELP DESK 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 2 weeks (it might be less or more in some cases) for the issue to be resolved.

 

If Your Bank Fails To Resolve Your Complaint: You have the right to escalate your complaint to the Director, Consumer Protection Department (CPD) of the CBN after lodging your complaint, when your bank fails to acknowledge within three (3) days or issue a tracking number, or fails to resolve the complaint within the timelines as stipulated by the Consumer Protection Regulation (CPR).

 

Complaints to the Consumer Protection Department: You can only direct your Complaints to CPD upon the failure of your Bank/Financial Institution to resolve your complaint within the timeline stipulated by the Consumer Protection Regulation (CPR).

 

Contacting Consumer Protection Department (CPD): You can contact the CPD through the following channels:
Emails: cpd@cbn.gov.ng
– Letter:
The Director
Consumer Protection Department
Central Bank of Nigeria
Central Business District,
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,” the apex bank noted.

On whether CPD deals with all types of complaints, the CBN confirmed in the affirmative that it deals with all financial-related complaints so far it is against a Financial Institution within its regulatory purview.

Advertisement
NewsOnline Nigeria

Recent Posts

  • Top Stories

President Tinubu, Obi, Governors, Others Eulogize Ogbonnaya Onu

President Tinubu, Obi and Governors among others have eulogized Ogbonnaya Onu.   NewsOnline Nigeria reports…

6 hours ago
  • Entertainment
  • Headline

BREAKING: FG Partners Tuface On MSMEs, Job Creation

FG has partnered with Tuface on MSMEs and Job Creation in Nigeria.   NewsOnline Nigeria…

6 hours ago
  • Crime Watch
  • Top Stories

Abuja High Court Takes Action On Criminal Summons Against Senator Okpebholo

Abuja High Court has taken action on the criminal summons against Senator Okpebholo.   NewsOnline…

6 hours ago
  • Headline
  • Top Stories

BREAKING: President Trump Makes History With First Major Appointment (FULL LIST)

President Trump has made history with a first major appointment.   NewsOnline Nigeria reports that…

6 hours ago
  • Economy And Business
  • Headline

BREAKING: Obaigbena Charges NNPCL To Battle Oil Mafia, Make Refineries Work

Obaigbena has charged NNPCL to battle the oil mafia and make refineries work in Nigeria.…

11 hours ago
  • Headline

BREAKING: President Tinubu Grants More Powers To Ministers Of State

President Tinubu has granted more powers to Ministers of state in Nigeria.   NewsOnline Nigeria…

11 hours ago