Nigerian banks defrauded their customers of a minimum of N6 billion in 2012.
At least this was the figure discovered by the Central Bank of Nigeria as numerous more cases would have gone undiscovered.
The revelation was made by the Governor of the CBN, Sanusi Lamido Sanusi, on Thursday during a lecture.
Sanusi said the CBN’s Director of Consumer Protection made the discoveries and ensured the reversal of all such fraudulent transactions.
Sanusi, in a keynote paper he delivered at the 2013 Isaac Moghalu Foundation Leadership Lecture and Symposium in Abuja, said: “The director of consumer protection has recovered over N6 billion in the last one year for customers that were cheated by banks.
“She takes the sides of banks customers even when I plead with her to be gentle with the banks.
“She is very ruthless.
“And when I see the evidence she has of how these banks have defrauded customers, I have no option than to allow her debit their accounts so that the customers would be refunded.”
The CBN governor said the apex bank recently set up a Consumer and Financial Protection Department to protect the interest of customers so as to promote their confidence in the banking industry.
In addition to that, Sanusi also unveiled a new policy guideline that requires banks to ensure at least 30 per cent women representation on their boards effective 2014.
He said this was part of efforts to correct the existing lopsided gender imbalance in the management and boards of the banks.
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