The Central Bank of Nigeria (CBN) has resolved 9,771 out of 10,704 bank customer complaints received in the first half of 2025 (H1’25), the apex bank disclosed in its latest Financial Stability Report.
The report highlighted a significant 143.3 per cent year-on-year increase in complaints, rising from 4,398 in H1’24 to 10,704 in the first half of 2025. The CBN attributed the surge to greater public awareness of consumer rights, increased regulatory emphasis on complaint reporting, and enhanced confidence in the Bank’s complaint resolution framework.
Breaking down the complaints, 53.45 per cent were lodged against Commercial Banks (CMNBs), while 46.55 per cent were directed at Other Financial Institutions (OFIs). In terms of categorisation, electronic and card-related complaints accounted for 51.5 per cent, fraud-related issues made up 39.27 per cent, and account management, excess charges, and other issues constituted the remainder.
The total value of claims reached N21.42 billion and $5.09 million, a sharp rise from N4.53 billion and $1.05 million reported in the second half of 2024. Refunds to complainants totaled N7.17 billion and $3,432.20.
The CBN noted that the number of complaints resolved or closed increased by 4.57 per cent compared to the 9,344 complaints resolved in the preceding half-year, reflecting the bank’s commitment to addressing customer grievances promptly and strengthening consumer protection in Nigeria’s financial sector.
Leave a comment