How to Report Your bank To CBN

Today in Nigeria, an average of middle-aged youth and older people have at least one account with a Nigerian bank; some people even have several accounts with one or more commercial banks in Nigeria. Sometimes, there may be a need to report a bank to the Central Bank of Nigeria – due to a failed transaction.

Generally, commercial banks are great financial institutions. With banks, you can save your money and do many other transactions. They offer these and many more financial services. The importance of owning a bank account can never be emphasized.

Banking with a Nigerian bank is entirely secure. I do not know of many people having security issues with their bank except that they have a hand in it.

However, some banks frustrate their customers due to failed financial transactions. Failed transactions range but are not limited to excess bank charges, failed mobile transfers, account mismanagement and so on. 

Facing any of the above issues can be extremely frustrating and stressful. So the next thing to do is to Complain to your bank.

Most Nigerian banks have a sophisticated customer complaint unit and customer care service. They employ great staff who know how to handle situations during trying times for their customers.

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How To Make a Complaint To Your Bank

When you experience any failed transaction, be it excess bank charges, failed transfer or any issue. The first thing you should do is contact your bank to file a complaint.

Contacting your bank through the quickest and easiest channel available comes first. You can call them on the customer care number, send an email or even reach out to them via their social media handles (Twitter and Facebook work well). 

By doing this, you may get the information and resolution you need quickly.

If your bank fails to resolve your issue within the specified period they should, you can now contact CBN to report your bank.

How To Report Nigerian Banks to CBN

If your report is not adequately dealt with and your unresolved issue, you will need to initiate an official customer complaint process with CBN.

The Central Bank of Nigeria is the apex bank in Nigeria. CBN regulates all commercial banks and other financial institutions in Nigeria.

In 2011, the CBN had set out the process to complain to its Circular – FPR/DIR/CIR/GEN/01/020.

On July 12, 2019 – the CBN took to Twitter to share some tweets on reporting your bank. The tweets were tagged #HowToLodgeComplaints. Also, they gave clear guidelines, which I shall explain.

Complaint For Excessive Bank Charges

Often, when customers are aggrieved and feel the need to complain, it is usually because their bank charges are too much and unexplainable. Or maybe they didn’t just get it. 

CBN Guidelines: In the case of Excess Charges, make a complaint to your bank and allow 30 days for resolution. Suppose they haven’t resolved the issue after 30 days.

Send an email to cpd@cbn.gov.ng and copy (i.e. CC) contactcbn@cbn.gov.ng.

You can also call +234 7002255226 to complain.

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Complaint For a Failed Transfer Transaction

With the advent of mobile bank apps and online bank transactions, many individuals have faced the challenges of unsuccessful transfers. 

Sometimes, when a customer tries to transfer money to another person using their ATM card or mobile bank app – it fails.

The supposed receiver would not get credited even when the sender debited. In this event, you should make a complaint quickly.

CBN Guidelines: In the case of Failed Fund Transfer or Card Related Issues, make a complaint to your bank and allow 72 hours (3 days) for resolution. If they haven’t resolved the issue after 3 days…

Send an email to cpd@cbn.gov.ng and copy (i.e. CC) contactcbn@cbn.gov.ng.

You can also call +234 7002255226 to complain.

Reporting Account Management Issues

Even though this is not a common challenge but it does happen sometimes. If you are not satisfied with the way, your account is being managed with your bank.

You should report or complain about it.

CBN Guidelines: In the case of Account Management Issues, make a complaint to your bank and allow 14 days for resolution. If they haven’t resolved the issue after 14 days…

Send an email to cpd@cbn.gov.ng and copy (i.e. CC) contactcbn@cbn.gov.ng.

You can also call +234 7002255226 to complain.

Important Note: After complaining to your bank, insist on getting the Consumer Complaint Management System (CCMS) tracking number. 

Include the CCMS tracking number in the email you want to send the CBN. This enables the Central Bank of Nigeria to follow up on your complaint.

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Alternatively:

Federal Competition and Consumer Protection Commission is a federal government commission where you can air grievances.

To put your bank on its toes to facilitate the resolution of your complaint, you can report to the CPC. Send a complaint email to CPC, copying your bank. 

Note: CBN is the only body charged with regulating and supervising commercial banks and other financial institutions in Nigeria. They are the only body that can review customer complaints from those institutions. 

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