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When You’re Tired Of Polaris Bank Issues? Here Is How To Report The Bank To CBN

Polaris Bank

When You’re Tired Of Polaris Bank Issues? Here Is How To Report The Bank To CBN

Are you fed up with Polaris Bank problems? Below is information on how to report Polaris Bank to the CBN.

Touchaheart has obtained how Polaris Bank clients who are fed up with the bank can file a complaint with the Central Bank of Nigeria (CBN) over excessive charges, unauthorised debts, account freezes, and other bank account-related difficulties.

Given the severe economic reality of rising food prices mixed with mounting economic despair in Nigeria, this online news site recognises that bank customers may become irritated and outraged if their bank account problems are not fixed swiftly.

The Central Bank of Nigeria (CBN) has advised bank clients to be patient with their bank, but if all other avenues have been exhausted in resolving issues with the bank, the apex bank has given a few procedures to take to bring the matter to the CBN’s attention.

What You Should Know About The Nigerian Banking Industry:

The Nigerian banking sector is one of the most closely regulated sectors in the country because it plays such an important part in the country’s economic growth.

The Central Bank of Nigeria (CBN), as Nigeria’s apex bank and principal regulator of the banking sector, has undertaken a number of reforms and policies over the years to ensure that the Nigerian banking sector stays stable and capable of generating economic efficiency and promoting trust with the public.

The main legislation that establishes the regulatory framework for banking activity in Nigeria is BOFIA 2020. It establishes the CBN’s regulatory and supervisory authority over Nigerian banks, including the granting and revocation of banking licenses, the establishment, and closure of bank branches, bank restructuring, and reorganization.

How To Lodge A Complaint With The CBN: How To Report Polaris Bank To CBN

Customers should give deposit money to banks for at least two weeks to settle any concerns, according to the CBN. As a result, if the problem hasn’t been remedied in two weeks, they’re on strong ground to move forward.

“If after lodging your complaint your Bank still fails to engage you and resolve the complaint within 2 Weeks as provided for in the ATM HELP DESK Circular, you have the right to escalate your complaint to the Consumer Protection Department (CPD) of the CBN.

“You can only direct your Complaints to CPD upon the failure of your Bank/Financial Institution to resolve your complaint within the 2 weeks timeline given by the CBN,” the apex bank said.

The apex financial regulator said bank customers can contact the CPD by sending an email to
[email protected], [email protected], or call +234 7002255226.

Customers can use this link to file a complaint directly on the CBN website. Customers can also write to the Consumer Protection Department’s director in Abuja’s Central Business District.

“Your letter of Complaint should be addressed to the Director, Consumer Protection Department. You can submit your letter at the CBN Head Office OR at any of the Central Bank of Nigeria branches of nationwide,” the CBN added.

“Your complaint should be clear and concise to avoid ambiguity. The Complaint letter (petition) should contain amongst other things the following:

  • Name, Address, Contact Phone Number & E-mail of the Complainant;
  • Name of your Financial Institution;
  • Personal banking details (Do NOT include PIN & Passwords, please;)
  • History/Date of the transaction in dispute;
  • Amount claimed (if any);
  • Attach relevant documents to support your claim and;
  • Evidence to show that you have first lodged the complaint at your bank.

Meanwhile, Touchaheart notes that bank customers can contact the Complaints Unit of their bank/financial institution or CBN offices around the country for more information on the Central Bank of Nigeria’s complaints handling process.

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