Business
CBN asks bank customers to report any unauthorised debits
CBN asks bank customers to report any unauthorised debits
Customers of various commercial banks in Nigeria have lamented multiple and indiscriminate charges and debits on their accounts.
Some of them took to social media platforms yesterday to accuse the banks of fraud.
Guys, there's a high level of coordinated fraud in the banking sector right now. So many customers are getting debited from their accounts and banks are claiming it's POS transactions even from accounts that don't barely use their cards.
These funds are not being reverted.
— OTUNBA COFFEE ☕️ (@OtunbaCoff) December 16, 2021
Here is what others had to say:
It's been like this for 8 months tho @gtbank stole my 39k, went to the bank to complain, they said it was a POS transaction, which was not initiated by me or anyone, i stay alone and don't move about with my card… Bunch of thieves!!!
— Arákùnrin Anu (@psalmmar) December 16, 2021
Union Bank remove 10k from my cousin's account and exactly like you said they tagged it "POS transactions"….He went to the bank to fight,i mean physically fist fight and in less that 12hours it was reversed.
— Sunday School Teacher???? (@Ukeh8) December 17, 2021
When contacted by newsmen today, Osita Nwanisobi, CBN spokesperson, said bank customers with unresolved complaints should contact the apex bank.
Nwanisobi said the CBN would ensure that bank customers get a redress on issues of excess charges and unauthorised withdrawals.
According to him, the CBN has since issued a circular on its website, showing all legitimate bank charges; any charge outside what is stated in the circular is not allowed.
“What you should be asking them (bank customers) is if they have reported those incidents to the CBN. We work based on the information we receive,” Nwanisobi said.
“We have channels, we have educated them, we have said that you have the right to complain if you get debited. We have written on our website about the cost of bank charges. If anybody is charging you more than what you see, what do you do?
“You need to report to CBN and we will take it up. Anytime we have done sensitisation, we showed them, in concrete terms, the amount we have recovered from banks and sent back to individuals.
“Customers should report to the CBN. We have channels, we have email addresses where they can reach us. That’s what they should do.”
HOW TO LODGE A COMPLAINT WITH THE CBN
The CBN advised customers to allow deposit money banks to resolve their complaints within two weeks.
“If after lodging your complaint your Bank still fails to engage you and resolve the complaint within 2 Weeks as provided for in the ATM HELP DESK Circular, you have the right to escalate your complaint to the Consumer Protection Department (CPD) of the CBN,” the apex bank said.
“You can only direct your Complaints to CPD upon the failure of your Bank/Financial Institution to resolve your complaint within the 2 weeks timeline given by the CBN.”
The apex financial regulator said customers can contact the CPD by sending an email to
cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226.
Customers can lodge a complaint directly on the CBN website via this link.
Customers can also choose to write a letter addressed to the director, Consumer Protection Department, Central Business District, Abuja.
“Your letter of Complaint should be addressed to the Director, Consumer Protection Department. You can submit your letter at the CBN Head Office OR at any of the Central Bank of Nigeria branches of nationwide,” the CBN added.
“Your complaint should be clear and concise to avoid ambiguity. The Complaint letter (petition) should contain amongst other things the following:
• Name, Address, Contact Phone Number & E-mail of the Complainant;
• Name of your Financial Institution;
• Personal banking details (Do NOT include PIN & Passwords, please;)
• History/Date of the transaction in dispute;
• Amount claimed (if any);
• Attach relevant documents to support your claim and;
• Evidence to show that you have first lodged the complaint at your bank.”
“You can make your further inquiries and obtain additional information on the Complaints Handling Process of the Central Bank of Nigeria from the Complaints Unit of your Bank/Financial Institution or from CBN offices nationwide.”
Business
Student loan scheme is part of anti-corruption efforts, says Tinubu
President Bola Tinubu says Nigeria’s new student loan regime could be considered an anti-corruption mechanism.
Tinubu was speaking about his government’s anti-corruption efforts during a presidential media chat that aired on Monday night.
He was asked if he considers anti-corruption an integral element among his governance priorities.
Tinubu said any policy intervention that aims to address the driver of corrupt practices could be considered anti-corruption.
“Corruption, in all its ramifications, is bad. But first, you must pay enough attention to its causes,” the president said.
“Why are the people corrupt? Lack of social amenities, lack of funding for their children’s education. There are so many anti-corruption mechanisms that you can put in place to help the people not be corrupt. Pay them good living wages.
“I have moved from 35,000 to 70,000. To me, that’s anti-corruption. I have given more money to the state and local government levels. I have been transparent with my earnings. Every month, there is a publication on how much this country is making.
“The ability to stem corruption is part of the instrument of the EFCC. That is why they are discovering all sorts of inefficiencies in the system, blocking all the loopholes where anybody can just game the system. That is part of anti-corruption.”
Tinubu said enabling equitable access to tertiary education through a loan scheme is just as important in the anti-corruption struggle.
“The removal of subsidies is also anti-corruption. It is very difficult to say you would eliminate it. You can only reduce it to the barest minimum. Help the people grow. Help them with the education of their children. Our student loan is part of anti-corruption,” he said.
“No parent should lament how to encourage their children in university education. Today, it’s working for a larger part of the population. The society is moving from illiteracy to literacy.
“I enjoy debate on what type of courses are being offered in the university these days to improve science, knowledge, and technology. We continue to work on it. We’re not taking our eyes off these serious matters.”
Business
APPLY: FIRS begins recruitment of senior managers, directors
The Federal Inland Revenue Service (FIRS) has begun its recruitment exercise for experienced professionals to fill specialised positions in the organisation.
Announcing various vacant roles on Monday, the FIRS said the recruitment exercise is part of its consolidation strategies.
The advertised positions include assistant manager and deputy manager roles in tax (investigation), PRS (research), public relations, and ICT (cybersecurity and AI management).
Other available roles are assistant manager and deputy manager in PRS (risk management), assistant manager and deputy manager in legal, and senior manager and assistant director roles in tax (audit).
“Applicants must have qualifications and relevant professional certificates as specified in the positions they are applying for and must also fulfill the following requirements,” the agency said.
“Applicant must possess Bachelor’s degree/HND with at least second class lower/lower credit.
“Applicant must have completed NYSC not later than 31st December 2017.
“Applicant for the position of assistant manager and deputy manager must not be more than 40 years of age while senior manager and assistant director must not be more than 45 as at 31st December 2024.”
The revenue agency said candidates must possess strong leadership and management skills, team spirit and ability to effectively delegate, interpersonal and communication skills, and strong Analytical skills.
“Knowledge of the Nigerian tax laws and appreciation of their application and understanding of the regulatory framework within which the FIRS operates,” the FIRS said.
“Knowledge of business/industry environment within which taxpayers operate.
“Ability to work as a regulator with the courage to ensure full compliance with laws.
“Interested candidates should apply via official FIRS career portal: careers.firs.gov.ng and or FIRS verified social media handles.”
The FIRS said the application portal will open on December 23, 2024, noting that the deadline for submissions is January 11, 2025.
The service advised applicants to carefully review the eligibility criteria before applying to ensure they meet all requirements and understand the qualifications needed for successful selection.
Business
UBA GMD calls for public-private partnership to accelerate economic growth
Oliver Alawuba, group managing director (GMD) and chief executive officer (CEO) of United Bank for Africa (UBA), has called for public-private partnership (PPP) to accelerate economic growth.
Alawuba spoke on December 20 during the launch of the newly renovated departure section of the Murtala Muhammed International Airport (MMIA), Lagos, refurbished by UBA.
According to a statement on Sunday by the bank, the project, which signifies a transformative moment in Nigeria’s aviation sector, shows UBA’s commitment to national development, highlighting the immense value of strategic PPPs.
The ceremony was attended by stakeholders, including Festus Keyamo, minister of aviation and aerospace development, and Olubunmi Kuku, managing director of the Federal Airports Authority of Nigeria (FAAN).
Alawuba commended the collaboration that led to the execution of the project, emphasising the need for public and private institutions to come together to build and revamp the nation’s assets.
“This renovation is a testament of UBA’s belief in the transformative power of investing in national assets. By modernising our airports, we not only enhance infrastructure but also position Nigeria as a global hub for tourism, trade, and investment,” he said.
“Public-private partnerships like this demonstrate what can be achieved when we unite for a shared vision of progress and investing in infrastructure catalyses economic growth, improves travel experiences, and creates opportunities across various sectors of the economy.
“The commissioning of the renovated departure section serves as a reminder of what strategic partnerships can achieve in driving national development and elevating Nigeria’s global standing.”
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