Expert tasks CBN on exploitative bank charges

Financial expert Mr. Okechukwu Unegbu urged the Central Bank of Nigeria (CBN) to address excessive service charges by Deposit Money Banks (DMBs). He highlighted that banks no longer prioritize customer service and impose unexplained charges. Unegbu called on the acting CBN governor to regulate DMBs and understand their customers' needs. He emphasized that banks should focus on serving customers rather than maximizing profits. Nigerians have complained about undisclosed deductions from their bank accounts. The CBN has approved specific charges, including fees for electronic funds transfers, ATM withdrawals, card maintenance, and hardware tokens