Arbitrary charges: Customers boycott banks today

Thousands of bank customers across the country are expected to boycott banking services on Tuesday (today) to express their grievances against alleged “arbitrary, illegal and excessive charges” by the Deposit Money Banks.



The Consumer Advocacy Foundation of Nigeria, a non-profit-making organisation, had a few weeks ago, declared March 1 a ‘No banking day’ to protest the continued imposition of alleged arbitrary charges on bank customers.

CAFON said its members would mobilise bank customers across the country to boycott banking services nationwide.

The campaign is meant to force banks to stop the regime of arbitrary charges imposed on their customers.
The move will involve a peaceful demonstration across major town and cities in the country.

Customers have made complaints of several illegal and arbitrary charges imposed on them by commercial banks.

Last week, the Central Bank of Nigeria said the DMBs refunded N6.2bn in excess and illegal charges to bank customers in 2015.