Banking Complaints Spike Sharply Despite CBN Resolving 9,771 Cases
Complaints from bank customers across Nigeria skyrocketed by 143.3 per cent in the first half of 2025, new data from the Central Bank of Nigeria (CBN) reveals, underscoring rising discontent with the quality of banking services amid the rapid growth of digital and electronic transactions.
According to the CBN’s latest Financial Stability Report, the number of grievances soared to 10,704 in H1 2025, up sharply from 4,398 recorded in the first half of 2024. Despite the surge in complaints, the apex bank said it successfully resolved 9,771 cases, reflecting an increase of 4.6 per cent compared with the preceding half-year.
“The total number of complaints received by the bank rose by 143.38 per cent to 10,704 from 4,398” the report states, highlighting the pace of growth in customer dissatisfaction.
What Customers Are Complaining About
A breakdown of the data shows that complaints span a range of service issues, with electronic and card-related complaints accounting for 51.50 per cent of all cases. Fraud-related issues comprised 39.27 per cent, while complaints tied to account management, excess charges and other service shortcomings made up the balance.
The report identified that 53.45 per cent of complaints were lodged against commercial banks and major non-bank financial institutions (CMNBs), with the remaining 46.55 per cent attributed to other financial institutions (OFIs).
Claims and Refunds: Growing Financial Stakes
The financial implications of these complaints were significant. Total claims from affected customers reached N21.42 billion and USD 5.09 million, a substantial rise from N4.53 billion and USD 1.05 million during the latter half of 2024. Refunds already effected amounted to N7.17 billion and USD 3,432.20.
Industry analysts suggest that the jump in complaints reflects not only an increase in banking activity but also greater consumer awareness of rights, stronger regulatory emphasis on complaint reporting, and growing confidence in the CBN’s redress mechanisms.
The Federal Competition and Consumer Protection Commission (FCCPC) applauded the CBN’s draft guideline requiring banks to refund failed ATM transactions within 48 hours, describing it as a “welcome response to the prevalence of banking-related grievances.
What This Means for Nigerians
For everyday banking customers, the surge in complaints highlights persistent pain points from failed transfers and unauthorized debits to unclear charges and delayed dispute resolutions. While progress has been made in addressing many of these issues, the escalation in complaints underscores the urgent need for banks and regulators to work together to improve service standards in Nigeria’s rapidly evolving financial ecosystem.
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