CBN should stamp out excessive bank charges

Grace Ihesiulo
1 Min Read

AN integral part of Africa’s largest economy, banking CBN has contradictory faces in Nigeria. In the pleasant one, the deposit money institutions are laughing all the way to the bank – literally – declaring huge annual profits. In another, their clients are groaning under excessive, arbitrary charges.

This is the painful side. The agony of bank customers resonates.

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In all this, the Central Bank of Nigeria, which is the industry regulator, seems indifferent to the pains of depositors as the banks run riot imposing arbitrary, steep charges.

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The CBN should stop the impunity.

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