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Nigerian bank customers filed 23,129 complaints against financial institutions in 2025, marking an 11% jump from the previous yearThe CBN resolved 18,824 complaints during the year and ordered refunds totalling N19.12 billion and $329.3 million to affected consumersThe apex bank also slapped financial institutions with N1.69 billion in penalties for regulatory breaches and poor complaint handling
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Central Bank of Nigeria (CBN) ordered banks and other financial institutions to refund a combined N19.12 billion and $329.3 million to customers in 2025, after complaints from bank users climbed to 23,129 during the year, according to the CBN’s 2025 Annual Report.
The figure represents a 10.53% rise from the 20,925 complaints recorded in 2024.
CBN directs banks to refund N19.12bn to customers after complaint investigations Photo: AFPSource: Getty Images
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