Bank Customers Protest Excessive Charges, Urge BCAN to Intervene

Bank customers across Nigeria have expressed frustration over persistent deductions from their accounts, calling on the Bank Customers Association of Nigeria (BCAN) to step in and protect their rights.

Speaking with the News Agency of Nigeria (NAN) in Abuja on Sunday, some customers described the charges as discouraging, excessive, and unnecessary.

Mrs. Helen Agodo, a customer with First HoldCo Plc, said daily debits by her bank had become unbearable.

Agodo urged BCAN to engage the Central Bank of Nigeria (CBN) and other regulators to address what she described as unauthorized deductions.

“In fact, I do not blame some people who decide not to put their monies in a bank. There was a day I calculated the debit alert charges that I received from my bank, it was up to N1,000 just for a day. You will now imagine the total amount the bank will get if they do the same deduction from, like, 1,000 to 2,000 of their customers,” she said.

Another customer, Cheta Ugochukwu of Guaranty Trust Bank Plc, described the deductions as “unfair” and not reflective of a sincere business model.

Ugochukwu, who only recently became aware of BCAN, urged the association to raise more awareness and engage customers nationwide for greater impact.

“Personally, I do all my transactions electronically, and I thought that is the basis for the cashless policy of the Central Bank of Nigeria. My bank charged me about N1,146 as an SMS alert for one month. This, to me, is too much.

“I was even charged N100 as an electronic money transfer levy, contrary to N50 stipulated by the regulation. I wonder how they calculate this because it is unfair with the current state of the economy,” she lamented.

Mr. Usman Idris, a Fidelity Bank Plc customer, said more than N3,700 was deducted from his current account as maintenance fees.

“When I reported to the bank for clarification, they told me to write officially. This is so sad. They didn’t ask for my permission before deducting the money, but I must write before getting an explanation,” he said.

A bank official who declined to be named defended the charges, insisting that deductions were in line with the CBN’s guide on bank charges.

NAN recalls that BCAN, under its President, Uju Ogubunka, confirmed it had previously written to the CBN over the rising concerns about deductions from customers’ accounts.

BCAN, a non-profit body and incorporated trustee, advocates for efficient banking practices and protects the rights of account holders in Nigeria. Its membership cuts across individuals and corporate organisations who hold or intend to open bank accounts in the country.