In its determination to protect the interest of Nigerian customers of financial products and services, the Central Bank of Nigeria (CBN) has stated that it received over 13,000 complaints from the banking public and recovered over N60 billion excess charges and returned same to the rightful owners.
Mrs. Chinyere Obilor, CBN’s Deputy Director of Consumer Protection Department (CPD), disclosed this at a sensitisation forum the Apex Bank organised in Owerri.
“The Department (Consumer Protection) received over 13,000 complaints from aggrieved members of the banking public and recovered over N60 billion excess bank charges and returned same to the rightful owners,”Obilor said.
While some banks were appropriately sanctioned for the observable unethical practices in the process, the CBN Deputy Director, however, urged the banking public to promptly report any unethical practices by commercial banks to the CBN, for what “immediate action.”
Earlier, Mr. Isaac Okoroafor, Director of Corporate Communications, CBN, said in five years’ time, no fewer than 10 million jobs would have been created through CBN activities on the economy.
“This will be achieved through 10 commodity models carefully chosen by CBN management.
“They include cotton, cocoa, maize, dairy, palm oil, fishery, poultry, cattle, tomato and cassava,” he said.
According to him, the CBN will give out high-yielding seedlings, fingerlings, and other inputs to farmers as the CBN remains committed to the welfare of farmers.
“As a way of assisting farmers, the CBN will provide anchor companies, who will buy off the products from the farmers, immediately after harvest.
“This will create the best value chain for the farm products,” Okoroafor added.
The Director of Corporate Communications also disclosed that plans are underway to establish farm settlements.
“This will be the easiest way of building the nation’s economy… the Nigerian economy would have collapsed long ago, if not for CBN intervention,” he said.