Finance

Banks refunded over N89bn to customers in June – CBN

CBN announces Naira remittances payout option

Governor of Central Bank of Nigeria (CBN), Dr Godwin Emefiele, has said that at the end of June 2021, commercial banks in Nigeria refunded N89.2bn to customers over complaints.

Emefiele stated this during a CBN Fair held simultaneously in Cross River and Akwa Ibom states with the theme “Promoting financial stability and economic development.”

Represented by acting director, corporate communication department of the apex bank, Mr Osita Nwanisobi, the CBN governor said the cumulative number of complaints from customers of banks as at June was 23,526 while 22,173 were resolved.

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According him, the fair became necessary to create awareness on CBN interventions and how it was impacting on the lives and businesses of the people.

“When the CBN governor assumed duty as the 11th governor of the apex bank, he made a profound statement that he wants a people-centred CBN and you cannot have that if you do not engage.

“Also, CBN has about 37 targeted interventions which includes The Targeted Credit Facility, Health Sector Intervention, Commercial Agric Credit Scheme, Nigerian Electricity Market Stabilisation Fund and others.

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“In addition, we want to use this opportunity to build the confidence of Nigerians that the nation’s financial institutions are resilient, stable and safe.

“Nigerians have nothing to fear as the CBN carries out a periodic examination of the banks,” he said.

On the digital currency by the CBN, the governor asserted that Nigerians needed to understand that crypto currencies are issued by unknown entities without regulations.

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He added that the digital currency which the CBN intends to issue would be regulated by the apex bank and it can be used for the nation’s monetary policy.

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