The Central Bank of (*10*), CBN, says customers of Deposit Money Banks have obtained N115.45 billion and $22.7 million, respectively, as refunds from failed transactions in the final ten years.
Elachi Samuel, an official of the Consumer Protection Department of the CBN, disclosed this in his presentation at a sensitization honest in Bauchi on Friday.
Samuel, whereas talking on the theme, ‘Promoting alternative payment channels as tools for financial inclusion’, defined that in the hunt to make sure customers’ security in the monetary sector, CBN had pursued a number of complaints to a logical conclusion.
He added that the nation’s apex financial institution would proceed implementing insurance policies to guard shopper transactions in the monetary sector.
“Since establishing the Consumer Protection Department of the Central Bank of Nigeria in 2013 till May 2023, we received 35,453 complaints relating to failed bank transactions. Out of these complaints, we resolved 33,437.
“During this period, the sum of N115.45bn was refunded to customers. The sum of $22,794,184.87 was also refunded to customers”, he acknowledged.
However, Media Talk Africa learnt that Nigerians have continued to lament some business banks’ lack of ability to make refunds from failed transactions.
