BY TONY EDIKE

ENUGU — The Consumer Protection Department of Central Bank of Nigeria, CBN, has refunded over N13 billion to financial consumers whose accounts were excessively debited and those who incurred unwarranted losses in their dealings with various financial institutions in the country.

The apex bank said the reparation was part of its responsibility as a regulatory financial body out to protect financial consumers in the country.
The CBN made the disclosure in Enugu, yesterday, at the opening of one-week sensitisation of financial consumers in Enugu State, aimed at promoting financial literacy among customers of financial institutions.

Representative of CBN’s Director of Consumer Protection, Hajiya Khadija Kazim, told newsmen in Enugu that the consumers’ forum provided literacy opportunities to customers of both the commercial banks, insurance establishments and allied financial consumers.

“There is no sacred cow in the banking sector. Any bank we have found guilty of any infractions on their customer’s account had been sanctioned and they have to refund the money that had been so excessively deducted.

“They were also made to refund the amount with full interest, and  through the efforts of this department, not what the banks on their own are refunding into the various customers’ accounts, we have on our own effort been able to refund over N13 billion to various consumers.

Kazim enjoined the people of Enugu State to avail themselves of the opportunity created by the forum to know all about their rights in financial transactions by participating in the interactive and informative forum taking place at Villa Tosscana, Enugu.

She noted that there are help desks in all financial institutions in the country charged with the responsibility of providing assistance and solutions to customers complaints.”