The Nigerian Deposit Insurance Corporation, NDIC, has stated that customers who discover that they have been overcharged, can petition the CBN or the NDIC in order to facilitate a refund
This is according to the Managing Director/Chief Executive Officer, NDIC, Hassan Bello, who was speaking at a 3-day Workshop organized for Business Editors and members of the Finance Correspondents Association of Nigeria (FICAN).
Hassan noted that most of the issues surrounding bank charges have been largely addressed assuring that issues surrounding customers’ complaints will be duly addressed.
Part of NDIC boss statement:
“The issues of charges have been largely addressed. That is why we also have this workshop, so that the Finance Correspondents will also help us disseminate the information.
He stated that customers that have been overcharged should lay their claim and a refund would be facilitated after an investigation.
“All we need to do is sensitize the banking public so that they can be aware that such document exists so that they are not unduly overcharged by the banks, and where customers discover that they have been overcharged, they can petition the CBN or the NDIC and it will be investigated and if the bank is found to have overcharged the customer they will be directed to make appropriate refund.
“In several instances, it has happened and banks have made refunds to customers where they overcharged them”, he said.
He spoke on the importance of enlightenment to address the issue, as he notes that the CBN already has a guide on bank charges which is available for the view of the entire public.
“The Central Bank of Nigeria, CBN, has already issued a guide to bank charges which strictly regulates how charges should be made to customers within the banking system. So it is for us now to do more enlightenment to the banking public so that they can know what these charges are. The document is available on the CBN website. You can access it and see what the charges are as per those guidelines. It has already been standardized and taken care of,” he said.
The NDIC is in collaboration with the bankers’ committee and other government agencies to check the increasing impact of cybercrime in the country.
Also, the NDIC has commenced steps to introduce a risk-based deposit insurance premium for Deposit Money Banks (DMBs) and other insured financial institutions.