The Central Bank of Nigeria has disclosed N430 million in 21 penalties for delays in resolving customer complaints and failures to comply with CBN directives, according to its 2025 Annual Report released on 29 July 2026. A separate N1.26 billion in 11 further penalties was imposed for regulatory breaches and failures to respond to regulatory queries.
The report also shows that the regulator received 23,129 consumer complaints during 2025, up 10.5% from the 20,925 lodged in 2024, of which 18,824 were resolved. Local-currency claims handled by the CBN rose to N40.61 billion in 2025 from N17.13 billion in 2024.
PENALTIES FOR COMPLAINT DELAYS
The N430 million was imposed in 21 penalties for delays in resolving customer complaints and failures to comply with the Bank's directives, the CBN said in its annual report.
A separate tranche of N1.26 billion was imposed in 11 additional penalties for regulatory breaches and for failures to respond to regulatory queries.
COMPLAINT VOLUMES CLIMB
The CBN attributed the 10.5% rise in consumer complaints to 23,129 in 2025 to increased awareness of, and improved confidence in, its consumer complaint resolution process. Of the total, 18,824 complaints were reported as resolved.
Foreign-currency claims rose to $344.2 million in 2025 from $1.06 million in 2024, while refunds to customers totalled N19.12 billion and $329.3 million, up from N9.66 billion and $0.67 million respectively.
The report is available through the Central Bank's website.