CBN charges bank customers on their rights, privileges

The Central Bank of Nigeria (CBN) has charged customers of commercial banks to know their rights and privileges at all times and report breaches to the Apex bank once their rights are violated.

Head, Consumer Protection Department of the bank, Daramola Atanda, gave the charge during a two-day CBN Fair and sensitisation campaign in Uyo, the Akwa Ibom State, organised by the bank’s Corporate Communication Department with the theme: Promoting Financial Stability and Economic Development.

He, however, asked bank customers to be responsible, as there were issues in their own purviews, such as understanding the account packages, and appealed to customers to ensure that they always repay their loans, as well as protect their financial instruments like their debit cards and others.

At the fair, in which no fewer than 1,000 persons from the 31 councils of the state attended, the participants were educated on various activities of the CBN.

Branch Controller of CBN in Uyo, Mrs. Itohan Ogbomon-Paul, said the fair was a harmonised sensitisation event for critical stakeholders and members of the public on the policy initiatives of the bank.

She listed such policy initiatives to include, clean naira notes, consumer protection, financial inclusion, and various agricultural finance intervention, among others.

“Given CBN’s critical role in the economy, it is imperative that stakeholders and members of the public, especially Akwa Ibom people understand the impact these initiatives have on our economic development.

“These initiatives help fast track the realization of the objectives of the CBN in fostering growth, financial stability, and economic development of the country,” she said.