Complaints received by seven banks in the country over failed transactions jumped to 6.9 million in 2022 from the 4.48 million recorded by the affected in 2021, representing a 54 per cent increase.
Analysis of the financials of Access Bank Holdings Plc, Zenith Bank Plc, Wema Bank Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc, Guaranty Trust Holding Company, and Jaiz Bank Plc, 6.76 million of the complains were resolved, 142,636 were carried over to 2023.
A further breakdown showed Access Holdings Plc had the highest number of customer complaints with 2.82 million, United Bank of Africa Plc, with 1.41 million, and Guaranty Trust Holding Company, with 1.01 million complaints.
Zenith Bank, Wema Bank Plc and Union Bank also received 475,499, 404,179 and 673,709 complaints, respectively. Jaiz Bank Plc, Nigeria’s biggest non-interest bank had 118,429 complaints.
Regarding refunds demanded, United Bank for Africa Plc received the highest with N86.34 billion, followed by Access Holdings Plc – N76.37 billion, and Union Bank of Nigeria Plc with N30.47 billion refund request from customers.
Guaranty Trust Holding Company had N2.16 billion in refund demands, while Zenith Bank Plc and Wema Bank Plc had N17.58 billion and N1.47 billion in refund demands, respectively.
Jaiz Bank Plc had the lowest refund demand, with N863.09 million.
Commenting, President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka, highlighted numerous factors that could lead to significant increase in customers complaints in 2022.
