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Banks’ Customers Complaints up by 115% on Transaction Hitches, Excess Charges, Others

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By Joseph Amah, Abuja

Following mounting daily transactions hitches, excess charges, among other sharp practices by Nigerian banks, nine banks’ customers’ complaints rose by 115 per cent to 5.39 million in 2021 from 2.

5 million reported in 2020, the banks’ 2021 result has revealed.

However, the banks resolved 5.

13 million or 95.18 per cent customers’ complaints in 2021 compared to 2.29 million or 91.3 per cent resolved cases in 2020.In terms of value, the total amount claimed by the banks’ customers rose significantly by 141 per cent to N346.7 billion in 2021 from N143.
97 billion in 2020.Conversely, amount refunded dropped by 14 per cent to N15.2 billion in 2021 from N17.7 billion in 2020. 

The banks include; Jaiz Bank Plc, Zenith Bank Plc, Access Bank Plc, Guaranty Trust Holding Company Plc (GTCO), United Bank for Africa (UBA) Plc, Fidelity bank Plc, Wema Bank Plc, Sterling Bank Plc, and FCMB Group Plc. Analysis of the banks 2021 audited financial statements revealed that Jaiz Bank in 2021 reported 118,198 customers complaints, an increase of 8.2 per cent from 109,211 in 2020, while Zenith Bank’s customers complaints rose by 75 per cent to 307,537 in 2021 from 175,702 in 2020. Access bank reported 2,205,214 customers complaints in 2021 from 1,738,036 reported in 2020, as GTCO closed 2021 with       673,772 customers complaints from 32,246 customers complaints reported in 2020.

Access Bank in the 2021 AFS stated that it is fully committed to the core value of ‘passion for customers, calling on customers to bring their concerns to the attention of the bank for prompt resolution. The bank added that, “Given the number and complexity of financial transactions that take place every day, the bank recognizes that there will inevitably be occasions when mistakes and misunderstandings occur.”

The other banks are UBA with 464,391 customers’ complaints in 2021 from 7,698 customers’ complaints reported in 2020, while Fidelity Bank reported 907,715 customers’ complaints in 2021, from 1,217 customers’ complaints in 2020. In addition, Wema Bank of all the banks reported about nine per cent drop in customers’ complaints to 216,772 in 2021 from 237,911 reported in 2020, while Sterling Bank grew its customers’ complaints by 48 per cent to 204,342 in 2021 from 137,620 in 2020. FCMB Group reported 296,570 customers’ complaints in 2021 from 73,385 customers’ complaints reported in 2020. The Central Bank of Nigeria (CBN) had recently advised customers to allow banks to resolve their complaints within two weeks.

“If after lodging your complaint your Bank still fails to engage you and resolve the complaint within two-week as provided for in the ATM HELP DESK Circular, you have the right to escalate your complaint to the Consumer Protection Department (CPD) of the CBN,” the apex bank said.

“You can only direct your Complaints to CPD upon the failure of your Bank/Financial Institution to resolve your complaint within the two- week timeline given by the CBN.” Commenting, President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka highlighted numerous factors that could led to significant increase in customers complaints in 2021.

He mentioned unprofessionalism of banks staff, customers not equipped to understand banking principle, excess charges He added, “I am not sure if banks are intensifying training for their staff but when you see a hike in customers complaints you will see a gap between experience and the practices of banking professionalism. However, we will need to interrogate further on what forms the basis of customers complaints in the banking sector and proffer solutions.”

On his part, the Registrar/Chief Executive Officer, the Chartered Institute of Bankers of Nigeria (CIBN), ‘Seye Awojobi said the role of the institute in the last 22 years has been ensuring a good avenue at which banks customers are protected in collaboration with the CBN. According to him, “That, we have done effectively through subcommittees on ethnic and professionalism.

The ICAN remains the secretariat of the bankers ‘committee subcommittee on ethnic and professionalism where customers with any complaint will actually report and we will agitate under an alternative dispute resolution mechanism to ensure the bank or any kind of transactions that have led to conflicts to be resolved. We encouraged the banks to attend to all customers’ complaints.

“The subcommittee on ethnic and professionalism of CIBN and CBN encouraged banks to open customer complaints desks in their various institutions. It is when customers are not satisfied with the bank’s resolution, they can then escalate it to a subcommittee on ethnic and professionalism which has a secretariat in the institute to which I have been the secretary to the committee since 2012. 

“They can also escalate their complaints to the consumer protection department of CBN. Bank customers’ complaints are related to excess charges and the subcommittee has done so much that today courts in Nigeria refer cases to the subcommittee to resolve when a customer takes the bank to court. It does not cost anything. EFCC also refers cases to the subcommittee since we look at cases on the basis principle of banking.”  

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Agriculture

FG Calls for Stronger Agricultural Value Chains to Boost Food Security

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The Federal Government has called for a stronger agricultural value chains, increased agro-industrialisation and improved market access to boost food security in Nigeria.

The Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr.

Marcus Ogunbiyi, made the call on Monday in Enugu during the Technical Session of the National Council on Agriculture and Food Security.

The theme of the event is “Enhancing Agricultural Value Chains, Agro-Industrialization and Market Access for Economic Growth.”

Ogunbiyi, who doubled as the Chairman of the Technical Session, said that the country must move beyond subsistence farming and embrace a commercially driven agricultural system capable of supporting industries, improving farmers’ incomes and expanding export opportunities.

“Our task goes beyond increasing the volume of food produced.

“We must build an agricultural economy that creates wealth, supports industries, generates decent employment, expands exports, improves rural livelihoods and contributes meaningfully to national economic growth,” he said.

The Permanent Secretary identified inadequate storage and processing facilities, limited access to finance, poor logistics and weak links between farmers and processors as major challenges affecting the competitiveness of agricultural products.

He called for increased investment in agro-processing facilities, rural roads, irrigation, electricity, cold-chain infrastructure and modern technologies to reduce post-harvest losses and promote local value addition.

“Agro-industrialisation is central to the transformation we seek to achieve. It provides the bridge between agriculture and industry.

“It also enables agricultural production to serve as a reliable source of raw materials for manufacturing and other productive sectors of the economy.

“The value of this Council will ultimately be determined by the quality of its resolutions and the extent to which those resolutions are implemented,” Ogunbiyi stated.

He also urged state governments to identify priority commodities, establish clear production and processing targets, attract private-sector investment and strengthen partnerships with research institutions and development partners.

In his remarks, the Enugu State Commissioner for Agriculture and Agro-industrialisation, Patrick Uburu, said that the state government was committed to agro-industrialisation to boost farmers’ income, create jobs and generate wealth.

Uburu, who described the technical sessions as a platform for translating policies into practical solutions, urged delegates to prioritise farmers and agribusiness operators in their deliberations.

He emphasised the need for stronger collaboration among state governments, federal agencies and development partners to address food security challenges, noting that recommendations from the meeting should be measurable and implementable.

The commissioner called for practical policies and investments that would improve farmers’ productivity and expand market access for agricultural produce.

Technical Lead Policy Advisory, GIZ ECOWAS & Nigeria, Dr Abiodun Ihebuzor, advocated for stronger partnerships and increased investment in agricultural value chains to reduce post-harvest losses and improve food security in Nigeria.

Ihebuzor noted that previous engagements at the 46th Council in Calabar and the 47th Council in Kaduna had provided opportunities to advance agricultural development.

He expressed optimism that the current meeting would strengthen collaboration among government institutions, development partners and private-sector operators.

According to him, healthy soils, efficient markets and improved storage systems were essential to sustainable food security.

On her part, Geraldine Onu, Deputy Director, Administration and Supply, Enugu State Ministry of Agriculture and Agro-Industrialisation, disclosed that the State Government had intensified efforts to transform agriculture from subsistence farming to commercial and mechanical farming as part of its economic development agenda.

She noted that investments in irrigation, storage, processing and agricultural infrastructure were aimed at increasing production, attracting private investment, reducing post-harvest losses and improving farmers’ livelihoods.

“In Enugu State, under the visionary leadership of Gov. Peter Mbah, agriculture occupies a strategic position in the state’s economic transformation agenda.

“The initiatives include the 300,000-hectare agricultural land bank, the development of Smart Farm Estates across the 17 Local Government Areas, the 260 Farm Estate Programme and the establishment of a tractor assembly plant,” Onu added.(NAN)

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NELFUND Loan Improves Graduate’s GPA to 3.50

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A graduate of the University of Maiduguri, Shianya Ebwaseh, said the Nigerian Education Loan Fund (NELFUND) helped improve her Grade Point Average (GPA) to 3.50 through financial support that enabled her to concentrate on her studies.

Ebwaseh, who graduated from the Department of Zoology, Faculty of Life Sciences, said this in an interview on Monday in Maiduguri.

She said financial difficulties had previously affected her academic performance, as she struggled to meet her daily needs while pursuing her degree.

The graduate said she resorted to selling fried chips and groundnuts on campus to support herself, sometimes missing lectures because of the time and energy required to run the business.

According to her, the introduction of NELFUND’s student loan scheme relieved her financial burden through tuition support and a monthly N20,000 upkeep allowance.

“Before NELFUND, I struggled with my GPA because of financial challenges. I sometimes missed lectures after spending hours frying and packaging chips for sale.

“But when NELFUND came, I stopped the business and concentrated on my studies. My GPA improved to 3.50, which is Second Class Upper,” she said.

Ebwaseh said the financial support also enabled her to attend lectures regularly, purchase learning materials and prepare adequately for tests and examinations without constant worries about money.

She added that her examination scores improved significantly after she began receiving the support, attributing the change to increased concentration and financial stability.

The graduate, who said she accessed the scheme in her third year, described the application process as simple and encouraged other eligible students to apply.

She also said the programme had helped financially disadvantaged students remain in school, particularly those whose parents could not afford tuition fees and upkeep.

Ebwaseh appealed to the Federal Government to sustain the initiative, emphasising that withdrawing the support could expose many students to financial difficulties and possible dropout.

She said the scheme had given beneficiaries an opportunity to pursue their academic ambitions with fewer financial distractions.(NAN)

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FG Seeks Synergy Among Housing Agencies to Boost Housing Delivery

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The Minister of Housing and Urban Development, Dr Muttaqha Darma, has called for synergy among government agencies in the housing sector to improve coordination and accelerate housing delivery.

Darma made the call in Abuja on Monday at the stakeholders’ conference on the proposed National Real Estate Regulatory Authority (NRERA).

The conference, themed “One vision, One Ecosystem, One National Housing and Real Estate Plan”, was organised by the Office of the Speaker, House of Representatives, and the House Committee on Housing and Habitat.

The minister said the lack of coordination among government agencies had affected the effective delivery of houses to Nigerians, noting that institutions in the sector operated independently.

“The players within the industry, all of us, operate in silos.

“Federal Housing Authority (FHA) does not even know what the Federal Mortgage Bank of Nigeria (FMBN) is doing. FMBN does not know what the Ministry of Finance Incorporated (MOFI) is doing,” he said.

According to him, the various institutions must work together towards a common goal rather than operate independently.

“Our target is to build houses for Nigerians. We are wasting our time because if we fail, it is us who fail, not the President,” he said.

The minister expressed support for the establishment of NRERA, saying the proposed authority would address the regulatory gaps in the real estate sector.

He said the ministry had reviewed the proposed legislation and recognised its potential to improve the sector.

Darma also disclosed that abandoned housing projects funded by the Federal Mortgage Bank of Nigeria (FMBN) across the country were worth about N38 billion.

He said a survey conducted by the ministry revealed abandoned FMBN-funded housing developments in every state of the federation, including the Federal Capital Territory.

“We realised about N38 billion of contributors’ money, your own money, all the Nigerian workers’ money. N38 billion is wasted,” he said.

He said that the poor management of workers’ contributions could discourage Nigerians from contributing to the National Housing Fund.

The minister urged the committee handling the proposed legislation to ensure that state governments were included in the regulatory framework.

He also called for safeguards to protect homebuyers, tenants, developers and mortgage lenders, including mandatory escrow accounts for buyers and standardised tenancy agreements.

The Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, said effective regulation was necessary to restore investor confidence in Nigeria’s real estate sector.

Takang said the sector contributed 12.71 per cent to Nigeria’s Gross Domestic Product (GDP) as of June 2026, but remained largely unregulated.

He said the absence of a national licensing system had allowed unqualified individuals to operate as estate agents and developers without adequate accountability.

“Anyone can sell land, anyone can collect off-plan payments, run into tens of billions and get away with it. There are very few countries in the world where these are allowed,” he said.

He called for mandatory licensing of real estate operators and the protection of buyers’ funds through designated project accounts.

“An operator must be licensed with the authorities. No one should be operating in the real estate sector without a licence, no matter which part of the value chain they are involved in,” he said.

He added that buyers’ funds should be kept in protected project accounts and released to developers based on evidence of progress on construction.

Takang said effective regulation would attract domestic and foreign investment, protect citizens and support the Federal Government’s one-trillion-dollar economy target.

He urged the National Assembly to ensure the passage of the proposed legislation, describing it as critical to bringing order and transparency to the real estate sector.

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