By Paul Effiong, Abuja
A group known as a coalition of Civil Society Organizations, CSOs, under the aegis of the Coalition Against Banks’ Fraudulent Practices and Customers’ Victimisation yesterday paralyzed most business activities in some parts of Abuja, the Federal Capital Territory as they staged a massive protest against alleged extortion, hidden charges as well as the arbitrary deductions by commercial banks.
The protesters which includes banks customers numbering in hundreds, took over major streets in the Central Business District, chanting solidarity songs and carrying placards with inscriptions such as “Stop Stealing From Customers,” “No to Hidden Bank Charges,” Steering Banks Should Stop Operations and“CBN Must Protect Customers’ Rights.”
The mass protest which began at Cedi Plaza in Area 11 at about 10am disrupted operations in some major commercial banks like the Sterling Bank, where protesters blocked entrances and demanded explanations over what they described as consistent criminal and fraudulent practices targeting innocent depositors and ordinary Nigerians.
Protesters also marched to the headquarters of the Central Bank of Nigeria, CBN,, where they submitted a petition detailing alleged exploitative deductions and irregular charges imposed on customers by several commercial banks across the country.
Receiving the petition on behalf of the apex bank, the Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, assured the protesters that the CBN would investigate all the issues raised and take necessary regulatory actions.
She also commended the CSOs for channeling their grievances peacefully without taking laws into their hand even as she pledged that her bank would ensure fairness and justice for all aggrieved customers.
“We acknowledge your concerns, and I assure you that this petition will receive the attention of the appropriate departments within the bank,”
She further said: “The CBN remains committed to protecting the financial well being of all Nigerians and ensuring that our banking system operates with transparency and integrity.”
Earlier in her remarks, the Director of Contact, Mobilisation, and Advocacy of the coalition, Chief Flora Lekwa, said the protest became necessary after years of complaints from customers about unapproved deductions, delayed reversals, and hidden charges that erode customers’ funds.
She further alleged: “the company alleged that the bank through its Chief Executive Officer together with Sterling Financial Holdings Company Plc and Four other defendants used its name to open various spurious account through which it siphoned Company Funds domicile with the bank up to the tune of over $200,000,000.”
According to her, “It has become a common trend for banks to debit customers for all manner of questionable reasons adding that some of these charges are dubious and lack transparency.
She pointed out that some of these illegal charges from banks when added up amount to billions of naira annually.
Lekwa, further accused banks of prioritizing profits over customers’ welfare lamenting that while banks declare trillions of naira in profits each year their customers continue to suffer unauthorized debits and poor service delivery.
“Even regulatory agencies appear helpless, but we are determined to bring these illegality to the national spotlight.”
The CSO leader equally emphasised that the protest was not only to draw public attention but to demand immediate reforms in the banking sector across the country.
“We are here for justice. We want transparency, accountability as well as fairness in all banking transactions”.
During the mass protest, protesters were seen moving from Cedi Plaza through the Tafawa Balewa Way and Goodluck Jonathan Road junction, blocking access to some banks while chanting anti corruption songs in solidarity.
The coalition also vowed to sustain the protest until meaningful actions are taken by the CBN as the regulator of banks and other relevant authorities.
In an interview with journalists at the premises of Serling bank, one of the protesters and a victim of fraudulent bank charges Mrs Cecilia Agabi painted her personal ordeal, alleging that her bank fraudulently debited her account in 2024 without refund.
She explained: “Last year, I tried to make a transaction, and my account was debited, but the money was never reversed. visited my bank several times without success. They even claimed my BVN was blacklisted by another bank I don’t even operate with.
Another protester, who identified himself as Mr. Uche Emmanuel, accused Sterling Bank of withholding over ₦3 million from his company’s account without justification.
“We have written several letters to the bank, yet they refused to respond. That’s why we are here. If nothing changes, we will continue to occupy their offices,”
The protesters also warned that they would shut down operations of defaulting banks nationwide if the CBN fails to act promptly.
She angrily said: “This is just the beginning. If nothing is done, we will mobilize across the 36 states.
Before and during the commencement of the protest security operatives including the Nigeria Police and Civil Defence Corps, NSCDC, were on ground to prevent breakdown of law and order, though the protest was very peaceful, with organisers insisting they only sought fairness and consumer protection in the financial system.
It was gathered that the CBN has set up a special team to review the petition so as to engage all the affected banks in discussions with a view to resolving all the allegation of victimisation.
