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...

Cameroon’s President Paul Biya, 92, to Seek Eighth Term

Cameroon’s President Paul Biya, 92, to Seek Eighth Term

Missed Opportunities: After Rejection in Ondo, Dangote to Build Nigeria’s Biggest Seaport in Ogun State

Missed Opportunities: After Rejection in Ondo, Dangote to Build Nigeria’s Biggest Seaport in Ogun State

BREAKING: FG Declares Tuesday, July 15 As Public Holiday to Honour Late Former President Muhammadu Buhari

BREAKING: FG Declares Tuesday, July 15 As Public Holiday to Honour Late Former President Muhammadu Buhari

Aregbesola’s Past Comes Back to Haunt Him: Adeleke’s Scathing Response

Aregbesola’s Past Comes Back to Haunt Him: Adeleke’s Scathing Response

Awujale of Ijebuland, Oba Sikiru Kayode Adetona Has Joined His Ancestors 

Awujale of Ijebuland, Oba Sikiru Kayode Adetona Has Joined His Ancestors 

BREAKING NEWS: Former President Muhammadu Buhari Passes Away In London

BREAKING NEWS: Former President Muhammadu Buhari Passes Away In London

Osun APC guber ticket: Aspirants emerge, battle lines drawn – abiodun KOMOLAFE

A word for Governor Oyebanji

A Mandate Renewed: Hon. David Olusegun Odunmbaku’s Visionary Leadership and the Future of Ojodu LCDA

A Mandate Renewed: Hon. David Olusegun Odunmbaku’s Visionary Leadership and the Future of Ojodu LCDA

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