Bank Charges: CBN go collect two million naira fine for illegal charges

Godwin Emefiele

Wia dis foto come from, Getty Images

Di Central Bank of Nigeria(CBN) don tell banks and oda financial institution make dem follow rules wey dem give dem on top bank charges or pay two million naira fine.

Dis one dey inside statement wey di number one bank for Nigeria release on Tuesday.

According to di statement, di Guide to Bank Charges sama two million fine, for any bank or financial institution wey collect excess, or illegal charges.

According to di statement, di guide also say, any bank wey no comply with di CBN directive in respect to any case, go further pay penalty of two million naira every day until dem comply or as CBN tok from time to time.

In order to make sure say di banks go true-true chook eye for every customer complain, CBN say dem don direct all banks to dey record every complain wey dem receive from customers inside di Consumer Complaints Management System (CCMS).

Di bank must also generate unique reference code wey dem go give di customer, CBN also warn say any bank wey no gree generate dis code go dey look one million naira fine for eye.

CBN say dis revised guide to charges by banks go take effect from January 1, 2019.

Dis dey come afta CBN on Sunday announce say dem don reduce di withdrawal fee wey dem dey charge on top pipo wey use oda banks Automated Teller Machines ATM by 46.15 per cent from N65 to N35.

Dem also don clear di air say customers no suppose dey pay N50 charge wen dem use point of sale, POS, machine say na di merchants wey dey receive di moni for goods and services suppose dey pay di charges.