The Central Bank of
Dutse, who delivered a paper on "Banker/Customer Relationship: Expectations and Realities," said the total petitions recorded was from inception of the office when it was still known as the
Specifically, she stated that the petitions were generally for issues relating to excess charges, unauthorised deductions, dishonoured cheques, cheque conversion, foreign remittances, and ATM frauds.
The CBN director, however, noted that the excess charges constituted over 50 per cent of the petitions the CPD had received and treated as at May, 2014.
According to him, the reasons that accounted for the development included greed, and poor service delivery by banks as well as failure to adhere to the provisions of extant guidelines and agreements.
"We had received many petitions where banks charged CoT in excess of the provisions of the RGBC, or where banks introduced fees that were not initially in the agreement between them and their customers. In these, and similar cases, the banks involved invariably breached the customer's right to fair treatment."
Dutse further added: "Another reality of the banker/customer relationship is the inadequacy of disclosure by banks to their customers. This is even more pronounced in today's competitive banking environment where banks churn out different kinds of products and engage in aggressive marketing to enhance their market share."
Earlier in his remarks, the President, BCAN, Dr
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- The Hip New Career? Farming
- McDonald's Names Another U.S. President
- Student Startup Develops Date-rape Detector
- Sahara Casino Rises Anew as SLS Las Vegas
- Is Diversity in the Eye of the Beholder?
- Chinese Coal Gas Boom Poses Climate Risks
- U.S. Supporters of Islamic State Get Close Scrutiny
- Job Market Shifts Complicate Yellen's Rate Decision
- Dems Losing Fear of Obamacare