Call to CBN for stronger regulatory action on unresolved frauds and irregularities

AI Summary

The article sheds light on the increasing financial frauds faced by Nigerian bank customers, calling for regulatory action from the Central Bank of Nigeria. It outlines ongoing issues with unauthorized transactions and excessive charges that remain unresolved, impacting consumers significantly.

By Ayodele Oso In recent years, Nigerian bank customers have faced a troubling wave of frauds, unauthorized transactions, excessive charges and administrative lapses by financial institutions. Many of these issues, escalated to the Central Bank of Nigeria’s Consumer Protection Department (CPD, recently re-named Consumer Protection and Financial Inclusion Department), have lingered unresolved for months or even […] The post Call to CBN for stronger regulatory action on unresolved frauds and irregularities appeared first on Vanguard News.