The
Central Bank of Nigeria, CBN, has extended the timeframe for the resolution of
banks’ customers’ complaints over excess charges and loans by banks from 14 to
30 days.
A
circular with reference number: FPR/DIR/CIR/GEN/04/009 issued by the Director,
Financial Policy and Regulation Department, Mr. Kevin Amugo, and dated June 30,
2014, explained that the extension became necessary in view of the apex bank’s
discovery that the earlier two-week period was inadequate.
The
new policy, according to the CBN,
