21 Feb 2020 : Nigerian banks debited more than N60 million in excess charges from 13,000 customers- these deductions were wrongful and illegal. CBN peter-pan-ed its way and returned the amount to the saddened customers, and says it will continue addressing these excess and unapproved charges thrown by commercial banks to the gullible customers

CBN had to intervene after a flock of 13,000 customers started complaining about these “ transactions” appearing on their accounts.

Central Bank has promised that they will continue to intervene to keep and eye on the Banks to ensure that they don't misuse customer’s deposits.

Back in 2018 also it also recovered over N65 billion from commercial banks over illegal deductions , although the said amount was supposedly accumulating over a 5-year period ( 2012-2018).

New charges

In January 2020, the apex bank kicked off the implementation of new charges on bank accounts, electronic transfers, and Automated Teller Machines (ATM).

Reporting for EasyKobo on Friday , 21 February 2020 in Lagos, Nigeria