Business

Bank Customers Petition CBN Over Unapproved Charges Amid Rising Frustrations

Bank customers across Nigeria are raising alarm over excessive charges on their accounts and have petitioned the Central Bank of Nigeria (CBN) for intervention. The Bank Customers Association of Nigeria (BCAN) made this announcement at the 2025 Artificial Intelligence Conference, organised by SuperNews, where concerns about unsanctioned deductions and poor customer service in Nigerian banks took centre stage.

Speaking at the event, Uju Ogubunka, President of BCAN, revealed that the association had formally written to the apex bank, urging it to resolve the issue of unapproved charges. He noted that the deductions—especially related to unstructured supplementary service data (USSD) billing—are beyond the scope of what the CBN approved.

“Based on excess charges, we have written to the Central Bank of Nigeria to find a permanent solution. If they don’t, customers may have to come out to demand it,” Ogubunka warned.

He also criticised the overall banking experience for customers in the country, describing it as unsatisfactory. According to him, the banking sector is flooded with complaints and petitions to the CBN, NDIC, Bankers’ House, and even the courts—proof that many customers feel neglected or underserved.

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“The truth is that when you talk of customer satisfaction in today’s Nigerian banking system, it doesn’t exist,” he said. “If AI had truly arrived in our banking system, most of these recurring issues would have been solved.”

At the conference, Johnson Chukwu, the keynote speaker, highlighted the potential of artificial intelligence to transform the financial services industry. He pointed out how AI is already revolutionising consumer credit by analysing data from telecom providers to assess spending habits and determine creditworthiness instantly.

Chukwu also emphasised AI’s role in enhancing personalised banking experiences, where each customer is treated as an individual rather than just another number. He noted that AI could lead to faster complaint resolution, as systems now have access to vast amounts of customer data and can identify optimal solutions quickly.

“AI will define the future of human engagement and experience,” Chukwu declared. “Any company that fails to adopt AI will not only be uncompetitive but also become obsolete.”

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He concluded by outlining the “seven Cs” needed to effectively implement AI in banking: capacity, capability, collaboration, creativity, cognition, continuity, and control.

As Nigerian banks race to modernise through AI, customers are still demanding basic accountability, beginning with transparency in charges and better service. BCAN’s petition signals a growing call for reforms to protect everyday users and restore trust in the banking system.

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