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CBN recovers Illegal Charges of N60b from Commercial Banks



CBN recovers Illegal Charges of N60b from Commercial Banks | BellaNaijaThe Central Bank of Nigeria (CBN) has recovered the sum of N60 billion termed as “illegal charges” from commercial banks.

According to Daily TrustDipo 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.


  1. tunmi

    July 2, 2018 at 3:22 pm

    this is such good news.
    but why una customers no testify about this one?


    July 2, 2018 at 3:43 pm

    CBN has no business holding on to the so called illegal charges recovered from the commercial banks. Please, CBN return the money to all the legitimate owners ASAP .A word is enough for the wise. I’m just saying

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