Six Deposit Banks in Nigeria received 4,595,628 million complaints from their customers within a period of one year with the total amount of refund being claimed hitting N137.62bn. This was disclosed in the banks’ audited financial reports for the year 2022 filed with the Nigerian Stock Exchange. Compared to the total amount being claimed by customers, which was N137.62bn, the six financial institutions refunded N113.33bn in the year under review. The banks covered in this analysis include Guaranty Trust Holding Company Plc, Wema Bank Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc, Zenith Bank Plc and the FCMB Group Plc. In its 2022 financial statement, Union Bank said that it received a total of 673,709 complaints with N30.27bn involved.

Source: Punch April 24, 2023 02:18 UTC