The Central Bank of Nigeria (CBN) has recovered the sum of N60 billion termed as “illegal charges” from commercial banks.
According to Daily Trust, Dipo Fatokun, the director of CBN’s Payment Systems Department, revealed this at a forum tagged “Meet the Citizen” in Lagos over the weekend.
The funds were refunded to customers on March 31, 2018, through the intervention of the consumer protection department, Fatokun said.
He added that the N60 billion included $18 million, €26,000 and £6000.
The refund will help build more confidence in the payment system, he said.