Abuja: Some bank customers in the Federal Capital Territory (FCT) have frowned upon the continuous increase in banks’ services in spite of the challenging economic environment and their outcry. The customers, who spoke to the News Agency of Nigeria in Abuja on Sunday, described the recent Automated Teller Machine (ATM) card issuance fee increase as insensitive and frustrating. They appealed to the Central Bank of Nigeria (CBN) to organise engagements with bank customers to enable them make bottom-top decisions.
According to News Agency of Nigeria, the apex bank in a recent circular increased the fee for the issuance or replacement of debit and credit cards from N1,000 to N1,500. Mr Boniface Onne, a bank customer, bemoaned the decision by the CBN, saying the apex bank should consider regulations that would cut down numerous bank charges. Onne said customers were already exhausted due to many transaction charges by banks, hence the reason for their outcry. He expressed concern over the deductions from bank tra
nsactions and highlighted the inconsistency between CBN’s circulars and actual bank charges.
Chief Ifeanacho Ubaka, another bank customer, urged the CBN to consider the plights of customers in decision making. He suggested that CBN should organise constant forums with banks’ customers through various associations to enable them understand the challenges faced by customers. He emphasized the need for direct engagement between the CBN and customers to address the confusion and frustration caused by multiple transaction charges.
Mrs Sarah Onifade, a bank customer, commended the CBN for scrapping maintenance fees but urged them to check the excesses of banks in line with their regulations. She shared her experience of being charged for a faulty ATM card and expressed concern over the increased issuance fee. Mrs Onifade’s experience reflects the broader issues faced by customers in dealing with bank services and charges.
Mr Victor Agabi, also a bank customer, highlighted the impact of the current economic situa
tion on banking decisions, stating that he often avoids depositing money in banks to escape incessant charges. His stance underscores the growing dissatisfaction among customers regarding bank fees and services.
Miss Hafsat Aliyu, a student, appealed to the CBN to translate and transmit its circulars in local languages for better awareness creation and understanding among both literate and illiterate bank customers. Her suggestion aims to bridge the communication gap between the CBN and a diverse customer base.
NAN reports that the apex bank said the fee, effective May 1, would apply to standard ATM cards issued by banks and other regulated institutions nationwide.