The Central Bank of Nigeria (CBN) imposed a total of N430 million in penalties on banks in 2025 for delays in resolving customer complaints and failure to comply with regulatory directives/
The apex bank disclosed that 21 penalties amounting to N430 million were imposed on the lenders in its 2025 Annual Report, demonstrating its sustained regulatory measures targeted at consumer protection.
According to the report, the affected institutions were sanctioned for offences ranging from delayed resolution of customer complaints to non-compliance with directives issued by the apex bank.
The CBN maintained that timely handling of customer complaints remained a critical component of consumer protection and financial stability, warning that institutions that fail to meet the required standards will continue to face regulatory sanctions
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Experts believe that the sanctions underscored the apex bank’s commitment to strengthening consumer confidence in Nigeria’s financial system by ensuring that banks and other financial institutions (OFIs) adhere strictly to established complaint resolution timelines and regulatory requirements.
