Money

CBN Mandate Banks, Other Financial Institutions to Assign Tracking Numbers For Customer Complaints Effective January 2, 2019

In its bid to ensure a stable financial system, the Central Bank of Nigeria (CBN) has through its Consumer Complaints Management System (CCMS) directed banks and other financial institutions with effect from January 2, 2019 to assign tracking number for every compliant received from customers.

This is contained in a circular dated December 21, 2018 and signed by Kofo Salam-Alada, director at the CBN.

The apex bank also directed banks and other financial institutions to issue and acknowledgment, which shall contain the assigned tracking number to the customer and to also commence upload of the complaints to the CCMS on a daily basis.

“In addition. BOFIs are enjoined to always comply with the timeliness stipulated in the CCMS for resolution of the various categories of complaints,” the circular added.

The CCMS is an automated system aimed at easing complaints management to engender public confidence in the Nigerian financial system.

 

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