The Central Bank of Nigeria (CBN) has confirmed receiving 35,453 failed bank transactions and resolving 33,437 issues, as it confirmed that N115.45 billion had been refunded from 2013 till 2023.
During apex bank’s fair yesterday, Mr. Elachi Samuel of Consumer Protection Department made this known to enlightenfarmers and stakeholders on other ways to deepen financial inclusion.
Mr. Samuel also encourage farmer association to embrace the e-Naira policy.
Samuel, who spoke on the rights and responsibilities of financial consumers, particularly in chosen banks’ products, resolving failed bank transactions and disclosure of details, noted: “It is within your right to receive transaction history on your mail to know how much you’re being charged. This will allow you to know that you’re not shortchanged and cheated. Financial consumers must know that they have the right to report their banks to the CBN over unresolved failed transactions.
“If you report the problem to us, we will look at the issues and ensure that we do justice. Between May 20, 2013 and May 20, 2023, we were able to refund N115.45 billion of failed bank transactions.
