Consumers in Nigeria are voicing frustration over growing bank charges, alleging unauthorised debits that have left many questioning the fairness of the country’s financial system.
Customers interviewed by the News Agency of Nigeria (NAN) said the deductions ranged from alert fees to inflated transfer levies and account maintenance charges.
Helen Agodo, a First HoldCo Plc customer, said she once accumulated ₦1,000 in alert charges in a single day. “You can only imagine how much banks rake in if this happens to thousands of customers,” she said.
Guaranty Trust Bank customer Cheta Ugochukwu said she paid ₦1,146 in SMS alerts in a month, while also being charged twice the statutory levy for electronic transfers. “This is unfair, especially given the state of the economy,” she said.
Fidelity Bank customer Usman Idris reported ₦3,700 in maintenance charges. “It is sad that they deduct money without asking, but when you question it, they demand a written complaint,” she said.
BCAN, which represents bank customers, said it has already petitioned the CBN. The association says it will continue to push for accountability, while banks insist fees comply with official guidelines.
