CBN Fixes 6 Years As Time Limit For Customers Complaint

The Central Bank of Nigeria, CBN, has fixed a time limit of 6 years within which complaints from customers against financial institutions can be lodged.

This is due to recent challenges in ensuring timely resolution of complaints from consumers of financial services against financial institutions under its regulatory purview.

The apex bank stated this in a circular posted on its website yesterday adopting a time limit of 6 years, effective from the date of the transaction, within which complaints against financial institutions shall be lodged.

However, it stated that the time limit would not apply to fraud cases, complaints already lodged with the financial institutions and international electronic payment transactions whose records are not retained beyond 180 days on the dispute resolution application. 

Share :

Tweet

✚

Related Post