No fewer than 2,281 displeased bank customers have lodged complaints to the ethics and governance directorate of the Chartered Institute of Bankers of Nigeria and claimed N377.6bn and $428.7m ((N197.2bn using current exchange rate) respectively since the inception of the directorate till the end of 2022.
This brings the total amount of claims paid to N574.9bn. The CIBN disclosed this in its 2022 report during its annual general meeting in Lagos on Saturday. It noted in the 2022 financial period that 2,241 cases were resolved while N34.12bn and $19.48m were awarded on claims resolved from the inception of the sub-committee. On the analysis of petitions/cases handled from inception since the year 2002, it noted that, “The number of cases received are 2,281; number of cases resolved, 2,241; total amount claimed on all cases received from inception, N377.6bn and $428.7m; total amount awarded on cases, N34.12bn and $19.48m.”
On banks customers’ complaints in 2022, it said, “In the year under review, the ethics and professionalism directorate received a total of 25 petitions/cases with claims amounting to about N8.7bn only. Meanwhile, a total of 35 cases, composed of 30 previous and five new ones, were fully resolved with the amount of N3.5bn refunded to petitioners.”
In addition to the bank/customer related cases/disputes which were brought to the committee for resolution, it said, the Nigerian judicial system recognised the mediation roles of the institute and has continued to refer cases for independent professional reviews and opinions to aid the judicial process in court.
It said the CIBN investigating panel had its statutory meetings and considered cases against members of the institute who were found culpable of unethical/ unprofessional conduct. During the year under review, the panel considered two of such cases and referred one to the disciplinary tribunal, according to the report. The CIBN said, “The ethics and governance directorate continues to play a pivotal role in the Nigerian banking industry.
In line with the mandate of the Bankers’ Committee, sub-committee on ethics & governance in resolving disputes relating to unethical and unprofessional infractions between banks and their customers. Additionally, the directorate coordinates the investigative panel and disciplinary tribunal to decide on issues of ethical conduct and professionalism as it pertains to individual banking professionals.”