Nowadays, everybody has at least one bank account. In fact, some Nigerians have a minimum of two, and we cannot blame them. Banks are indeed a blessing to this world since they assist you to keep your cash safe and help you with your financial transactions. They provide this and several other services while charging a fee.
Bank transactions mostly happen with zero problems. However, there will be times when the bank will be unable to serve you as you want, maybe there is a kind of problem that needs resolving. And because your cash is very important, when things go south, it can be very annoying and stressful.
Luckily for us, a lot of these banks have a decent customer complaint/handling system when such issues arise. Here, customers are allowed to talk to someone about it extensively till it is solved, but not all bank customers know about this. This is why we took it upon ourselves to carefully state the instructions customers can adhere to when they wish to make complaints about banks or other financial institutions.
The problems bank customers deal with are just not fair. I’m talking about charges with zero explanations, terrible customer service by bank staff, transactions from customer accounts via bank transfers or ATM withdrawals that are not authorized, e.t.c. Lets put you out of your misery by breaking down How To Make A Complaint Against Your Bank In Nigeria:
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How Can I Make A Complaint Against My Bank In Nigeria
- Immediately the issue between you and your bank starts. Before anything else, you need to reach out to the bank via the fastest channels available. You can call them on their customer care line or via their social media accounts, because most times, your problem might be a simple one and could be resolved as quickly and smoothly as possible. However, it does not matter the communication channel you go for, just make sure you note the details of the communication. For example, if you made a phone call, jot down the name of the person you talked to, the things you spoke about, and the reply you received. Every phone call is recorded so it can be reviewed if there are more issues in the future.
- If the problem does not get solved, then you have to start with the official customer complaint process. Every bank is regulated by the Central Bank of Nigeria (CBN), and CBN broke down the process to be followed in its Circular – FPR/DIR/CIR/GEN/01/020 18 years ago. The customer is supposed to send a complaint letter to the Bank. CBN already instructed every bank to share email addresses for complaints, so you can send your mail and then take a copy of the complaint to the bank branch. That way, you can be certain that it was received.
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- CBN instructions state that the bank has to solve your issue within two weeks of receipt of the complaint. If for any reason, the Bank fails to do that, you can reach out to the Consumer Protection Department (CPD) of the CBN. They will be of help, but you can only take the issue to them after two weeks of an unresolved problem. Asides attending to your banking issue, CBN also has the right to punish your bank for failing to attend to you within the stipulated deadline. Your complaint should be sent through email to [email protected] or via the CBN online form here- https://www.cbn.gov.ng/Contacts/Complaints/.
- CBN has no deadline for handling the complaints, but they should help resolve things as quickly as possible. In most cases, CBN will solve the banking problem between you and the bank, but if that is not the case, you can now take the matter to court. Your bank can be sued, but you will have to exhaust every pre-court alternative before that. This last step has to be seen as the last resort since court matters are very stressful and costly. It should also be seen as a compulsory option if the amount involved is pretty high, and the reasons behind the failure to solve your issue by the bank and the CBN are clearly unfair.
Contacting the Consumer Protection Department
You can contact the CPD through the following channels:
- E-mail- [email protected]
- Letter:
Director,
Consumer Protection Department
Central Business District, Abuja
Your letter of Complaint should be addressed to the Director, Consumer Protection Department. You can submit your letter at the CBN Head Office OR at any of the Central Bank of Nigeria branches nationwide.
Does the CPD Deal with all Types of Complaints? The CBN deals with all financial related complaints so far as it is against Financial Institutions within its regulatory purview. How to Write an Effective Complaints Letter
Your complaint should be clear and concise to avoid ambiguity. The Complaint letter (petition) should contain amongst other things the following:
- • Name, Address, Contact Phone Number & E-mail of the Complainant;
- • Name of your Financial Institution;
- • Personal banking details (Do NOT include PIN & Passwords, please;)
- • History/Date of the transaction in dispute;
- • Amount claimed (if any);
- • Attach relevant documents to support your claim and;
- • Evidence to show that you have first lodged the complaint at your bank.
You can make your further inquiries and obtain additional information on the Complaints Handling Process of the Central Bank of Nigeria from the Complaints Unit of your Bank/Financial Institution or from CBN offices nationwide.
