Tag Archives: Vigilance

No Banking Day: CBN Calls For Vigilance Against Excessive Charges

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The Consumer Advocacy Foundation of Nigeria (CAFON), a non-profit making organization, has threatened to boycott banking services from today, Tuesday, March 1, 2016, owing to perceived arbitrary charges by commercial banks.

 

Consequently, Central Bank of Nigeria, CBN, has called on bank customers to be vigilant against excessive bank charges and channel complaints to appropriate authorities, instead of participating in the boycott of banking services. CAFON said: ‘’It is pertinent to note that the Nigerian banking system had seen radical reforms in recent years in order to drive the Vision 20: 2020 programme. As part of this broad policy initiative the Central Bank of Nigeria, CBN, rolled out the cashless policy with a number of options in the electronic payment systems, including the mobile banking.

 

‘’To achieve this, the CBN had enlisted electronic and telecom service providers to ensure convenience and safety.

 

‘’In addition, the Bank also set up the Consumer Protection Department, CPD, saddled with the responsibility of ensuring that bank customers are not unduly short-changed by the commercial banks. “Meanwhile, it is equally expected that while the regulators are doing their bit, bank customers must not only insist, but persist in demanding that their respective banks give them good service and at affordable charges.

 

‘’Nigerians should note that the bank-customer relationship is personal and contractual and should seek for redress when shotchanged.’’ Meanwhile, the Central Bank of Nigeria, CBN, has called on bank customers to be vigilant against excessive bank charges and channel complaints to appropriate authorities instead of participating in the boycott of banking services. The apex bank stated this in response to the boycott of banking services today called by Consumer Advocacy Foundation of Nigeria (CAFON).

 

Two weeks ago, CAFON launched a campaign against the introduction of Stamp Duty charge of N50, Current Account Maintenance Fee and excessive bank charges.

 

The group called on bank customers to boycott all banking services in March to protest the charges.

 

However in a statement issued yesterday, the CBN faulted the boycott, saying CAFON should rather encourage Nigerians to take complaints that were related to wrongful bank charges to the appropriate quarters.

 

 

Credit : Vanguard

We’ve Crushed Terrorism But We’ll Remain Vigilant — Buratai

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Chief of Army Staff, Lieutenant General Tukur Buratai has commended his men for crushing terrorism in the North East.

 
Lt-Gen Buratai who spoke weekend while laying the foundation stone for the new Brigade headquaters complex at the 2 Brigade, Port Harcourt, Rivers State said, the army will remain vigilant to contend any new strategy that may be adopted by the terrorists.

 
“The North East operation is critical at this stage. The terrorists have been defeated. These criminals may rear their ugly heads through other means. We will continue to maintain vigilance,” he said.

 
Buratai also laid the foundation stone for the new Brigade headquarters complex at the 2 Brigade, assuring that the Federal Government will continue to give special attention to the welfare of soldiers.

 
He commended soldiers of the 2 Brigade for their commitment to duty, saying that the Nigerian army had remained celebrated all over the world for professionalism and high level of discipline.

 
He lauded the efforts of the brigade in the anti oil theft war, saying that they should maintain the very high standard of discipline.

 
He said the army will improve on challenges of accommodation in barracks in the country, adding that attention would be given to the medical needs of soldiers and their families.

 
Buratai also interacted with wives of soldiers in the barracks, promising that the Federal Government will improve on the welfare of troops.

 
Buratai also inspected a five bedroom block project being built by his office in the barracks.