The Central Bank of Nigeria (CBN) orders refunds and penalties following a rise in customer complaints about banks. According to reports citing CBN figures, bank customers submit 23,129 complaints in 2025, which is an 11% increase compared with the previous year. The CBN directs lenders to refund affected customers a total of N19.12 billion and $329.3 million, reflecting the outcomes of the regulator’s review of reported breaches and consumer impacts. In addition to ordering refunds, the CBN imposes penalties on banks for non-compliance, totaling N1.69 billion. The reporting indicates the complaints and related regulatory actions are part of the CBN’s supervision and enforcement efforts to address issues raised by customers and hold financial institutions accountable. Both sources present the same core figures: the number of complaints, the refund amounts in naira and US dollars, and the total penalties imposed in naira.
CBN orders refunds and penalties after 23,129 bank customer complaints in 2025
The Central Bank of Nigeria (CBN) orders refunds and penalties following a rise in customer complaints about banks. According to reports citing CBN figures, bank customers submit 23,129 complaints in...
- Bank customers lodge 23,129 complaints in 2025, an 11% increase year-on-year.
- The CBN orders refunds totalling N19.12 billion to affected customers.
- The CBN also orders $329.3 million in refunds.
- The CBN imposes penalties on banks totalling N1.69 billion.
- The actions follow the CBN’s review of breaches linked to customer complaints.
Bank customers filed 23,129 complaints in 2025, prompting the CBN to order N19.12 billion and $329.3 million refunds while imposing N1.69 billion penalties.
3 hours ago•Slams N1.69bn penalties on banks’ breaches By Babajide Komolafe Bank customers lodged 23,129 complaints against financial institutions in 2025, representing 11 per cent increase over the previous year, prompting the Central Bank of Nigeria, CBN, to order refunds totaling N19.12 billion and $329.3 million to affected consumers. The apex bank also imposed N1.69 billion in penalties […] The post Bank customers’ complaints rise 11% as CBN orders N19bn refunds appeared first on Vanguard News.
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