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CIBN received 136 bank customers’ complaints in 2016 – report

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CIBN received 136 bank customers’ complaints in 2016 – reportIBN

By Olawunmi Ashafa

The Chartered Institute of Bankers of Nigeria (CIBN) says its Ethics and Professionalism Division received 136 petitions with claims that amounted to N27.6 billion from bank customers in 2016.

The institute made this known in its 2016 Annual Reports and Accounts signed by the Registrar, Mr Seye Awojobi.

The report was released on Saturday in Lagos.

It said that 79 cases were fully resolved out of the 136 petitions, translating into a total refund of three billion naira.

The CIBN said that it also raised N439.58 million as annual development fund and corporate subscription during the year under review.

The institute noted that the figure was lower than the N443.38 million expected in 2016.

It said that the payments were received mostly in the first quarter of the year, thereby increasing its portfolio of investible funds.

The body also noted that the figure represented a balance of N3.8 million representing 0.86 per cent as outstanding at the end of the 2016 financial year.

CIBN said that regulators and commercial banks paid N400 million, development banks, six million naira; mortgage banks, N1.2 million; and microfinance banks, N2.2 million.

It added that the institute’s individual membership grew from 118,802 in 2015 to 122,680 in 2016.

The figure is an increase of 3,893 new members which represented 3.36 per cent into various categories which include honorary fellows and seniors as well as students and ordinary members.

On corporate members, the institute said it registered additional 16 microfinance banks in 2016, and that they were issued certificates in line with CIBN Act No. 5 of 2007.

It said that micro-finance banks which it had registered were 363 out of the 979 microfinance banks licensed by the Central Banks of Nigeria.

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