News Column

Group Seeks Increased Sensitisation on Banking Services

August 15, 2014

Obinna Chima

The Bank Customer Association of Nigeria (BCAN) has called for the protection of the interest consumers of financial service products in the country.

The association also stressed the need for banking services to be conducted based on acceptable values and best practices in the country. BCAN stated this in a communiquÉ at the end of its maiden customers' summit held in Lagos recently.

The association also said there was need to intensify efforts at fostering mutual understanding, trust and confidence between banks and their customers through customer education so as to strengthen and ensure the realisation of the Central Bank of Nigeria's (CBN's) financial literacy, financial inclusion and other programmes.

At the one-day summit, participants also recognised the inter-dependence of the operators, regulators and bank customers in creating a sound, stable, sustainable and resilient financial system.

They also noted the need to inculcate appropriate banking habits and culture among the populace.

The association also called for collaboration and partnership with organisations and individuals "who share its vision and objectives in order to be able to extend its services to the nooks and crannies of Nigeria, for positive multiplier effect."

It also sought to "create sustainable platform for the provision of advisory and counselling services in banking and finance to its members and the interested public in order to deepen their knowledge and ability to make the right financial decisions and choices," as well as "work closely with the regulatory and supervisory authorities to ensure that banks are held accountable for any unethical, unprofessional and risky products, services and practices they introduce into the financial system and to customers/consumers."

BCAN advised customers of banks in the country to always make input to regulators and supervisors' draft policies, especially when critical policies that may affect them were being contemplated.

On the other hand, BCAN called on banks to at all times: "Respect, uphold and protect all the rights of their customers regardless of regulation it or the crave for profit. Comply with the provisions of all operative statutes, regulations, laws, guidelines and policies as well as agreements and must not capitalise on the ignorance of customers to breach their rights. "Genuinely and transparently support the growth of their customers' businesses so as to win the customers for life and to grow the economy. "Have Service Charter where, among other things, they obligate themselves not to exploit and/or cheat their customers under any guise."

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Source: AllAfrica

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