We’ve recovered N89.2 billion excess and illegal charges slammed on Nigerians by the banks – CBN

The Central Bank of Nigeria, CBN, has disclosed that it has so far recovered N89.2 billion excess and ill*gal charges slammed on customers by banks in Nigeria.

The CBN Governor, Godwin Emefiele, represented by the Acting Director, Corporate Communications Department, CBN, Osita Nwanisobi, speaking in Calabar at a 2-day public enlightenment fair, said the amount which was as of June 2021 was based on 23,526 complaints they received from customer bordering on charges and other related matters.

“What we do is that whenever we get these complaints, they are thoroughly investigated, if they are found to be true, the CBN makes sure that these customers are properly refunded and we have so far recovered N89 billion,” he said.

He added that the insinuations that the Apex bank was planning to convert domiciliary/ dollar accounts to naira were false and unfounded.

Meanwhile, the apex bank also said that Nigeria’s financial system is sound, resilient and stable contrary to rumours in unnamed quarters.