Fraud: CBN refunds N15.5bn to bank customers

The Central Bank of Nigeria said it has refunded over N15.5bn to bank customers from 10,000 complaints from members of the public against commercial banks and other financial institutions on cases related to frauds.

The acting Director of Corporate Communication department, Isaac Okoroafor, who was represented by his communication officer at the apex bank, Sam Okogbue, made this known recently during a sensitization for members of the public on promoting financial stability and economic development.

Okugbue, who did not give further details on the complaints cases, said over N51 billion had been verified and successfully refunded to their rightful owners, adding that he also urged members of the public to always return destroyed money notes to the apex bank for replacement.

A total of “9,600 and 403 complaints against commercial banks and other financial institutions have been successfully processed while over N15 billon, US Dollars 17.5, €euro 24,800 and £6000 have been refunded.

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“If money notes burn to ashes, collect the ashes, enveloped it and bring it to the Central Bank of Nigeria of any branch. The ashes will be forwarded to our head offices for test and analysis will reveal the value of the money destroyed. The bank will replace same value of money to the victim.

“Don’t squeeze it, don’t be dancing on it, don’t hold it with dirty hands and don’t be playing with it anyhow. We have warned the public against responding to any text massage asking for your pin or any other confidential information.”

He also advised the general public to stop squeezing the naira notes especially during occasions.

He also sensitized participants on how to identify fake currency notes saying, whenever such naira notes are found they should be taken to the police or the appropriate authorities to be destroyed.