CBN Extends Timeline for the Resolution of Complaints on Excess Charges and Loans to 30 Days

Regulators
3097 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp
Proshare

July 3rd, 2014 8.30AM/CBN

Further to our circular referenced FPR/DIR/CIR/GEN/01/020 dated 16 August, 2011, directing Deposit Money Banks (DMBs), Discount Houses and Other Financial Institutions to set up and/or expand their existing ATM Help Desks to handle all customer complaints and resolve same within 14 days, the Central Bank of Nigeria (CBN) has observed that the 14-day time for the resolution of complaints on excess charges and loans has been inadequate.

Consequently, the CBN has approved an extension of the timeline for the resolution of all categories of complaints on excess charges and loans from fourteen (14) days to thirty (30) days. This circular takes effect from June 30, 2014.

Please, be guided accordingly.

READ MORE:
Related News
SCROLL TO TOP