Parrot Reporters
No Result
View All Result
  • Home
  • Top Stories
  • News
  • Politics
  • Business
  • Economy
  • World News
  • Diaspora
  • Other Features
    • Crime
    • Entertainment
    • Tourism
    • Interviews
    • Editorials
    • Opinion
Parrot Reporters

N51.9bn Illegal Deductions Returned to Customers – CBN

Parrot Reporters by Parrot Reporters
July 25, 2017
0
N51.9bn Illegal Deductions Returned to Customers – CBN
Share on FacebookShare on TwitterShare on Whatsapp

An astonishing total sum of N51.9bn illegally deducted from customers account have been refunded bank with the intervention of the CBN. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor made this disclosure during a stakeholders meeting in Port Harcourt.

According to him, within the past five years, the CBN Consumer Protection Department recovered and returned a sum of N51,913,350,828.85 in illegal deductions made by commercial banks to the affected customers.

He also added that a further sum of $18,191,444.19, €26.286,62 and £6,000 were also recovered and returned during the period.

Mr. Isaac Okorafor said this intervention was as a result of several complaints made by customers across the country of illegal deductions being made on their accounts by their banks.

He said after due investigations of such complaints and if the customer’s bank was found to be in error, then such banks were compelled to return bank such funds to the account of the customer from which it was deducted.

He also lauded the Bank Verification System currently in place as it had helped in fighting the issue of criminal acts and other forms of fraud as it was now easy to identify people who owned what accounts.

More News...

A Tribute to a Statesman, Farewell David Mabuza

A Tribute to a Statesman, Farewell David Mabuza

ADC Coalition: A Gathering of Political IDPs – Renewed Hope Global Fires Back

ADC Coalition: A Gathering of Political IDPs – Renewed Hope Global Fires Back

TRAGEDY STRIKES: Liverpool Star Diogo Jota, Brother Andre Die in Car Accident Weeks After Wedding

TRAGEDY STRIKES: Liverpool Star Diogo Jota, Brother Andre Die in Car Accident Weeks After Wedding

Why is Merit No Longer Matters in Nigeria; And the Nation Suffers for It: By Dr. Tofunmi Ogunronbi

CATCHBALL FEDERATION CELEBRATES SANWOOLU’S SSA, ORIMOLOYE ON BIRTHDAY FOR REMARKABLE CONTRIBUTIONS TO SPORTS DEVELOPMENT IN LAGOS

CATCHBALL FEDERATION CELEBRATES SANWOOLU’S SSA, ORIMOLOYE ON BIRTHDAY FOR REMARKABLE CONTRIBUTIONS TO SPORTS DEVELOPMENT IN LAGOS

YORUBA CHIEF, OWOLABI SALIS MAKES HISTORY AS FIRST NIGERIAN TO REACH SPACE ON BLUE ORIGIN MISSION

YORUBA CHIEF, OWOLABI SALIS MAKES HISTORY AS FIRST NIGERIAN TO REACH SPACE ON BLUE ORIGIN MISSION

More Defections Loom, But PDP Will Bounce Back — Senator Bukola Saraki

More Defections Loom, But PDP Will Bounce Back — Senator Bukola Saraki

PRESIDENT TINUBU CELEBRATES CGC ADEWALE ADENIYI’S HISTORIC ELECTION AS WCO COUNCIL CHAIR

PRESIDENT TINUBU CELEBRATES CGC ADEWALE ADENIYI’S HISTORIC ELECTION AS WCO COUNCIL CHAIR

About Us

Parrot Reporters is an independent and non-partisan news platform with special focus on Nigerians in Diaspora cum news within and outside the shore of Nigeria.


Our aim is to celebrate the exploits of Nigerians in diaspora particularly in Southern Africa and other parts of the world.

Categories

  • Business
  • Comic
  • Cover Stories
  • Crime
  • Economy
  • Editorials
  • Entertainment
  • Health
  • Interviews
  • Nigerians In Diaspora
  • Opinion
  • Other News
  • Politics
  • Sports
  • Tourism
  • Videos
  • World News

Follow Us

COPYRIGHT © Parrot Reporters
No Result
View All Result
  • Browse
    • Sports

© Parrot Reporters