daily until the directive is complied with or as may

 

N2,000,000 daily until the di webapex.net rective is complied with or as may be determined by the CBN from time to time.

Consequently, the CBN directed banks to log every complaint received from their customers into the Consumer Complaints Management System (CCMS) in addition to generating a unique reference code for each complaint lodged, which must be given to the customer. Failure to log and provide the code to the customer, it added, amounts to a breach and is s westernmagazine.org anctionable with a penalty of N1,000,000 per breach.

The charges prescribed in the Guide were arrived at after extensive consultations with stakeholders and is expected to enhance flexibility, transparency and competition in the Nigerian banking industry.

This Guide, which replaces the Guide to Charges by Banks and Other Financial Institutions issued in 2017, takes e ysin.org ffect from January 1, 2020, and maybe reviewed from time to time to reflect changes in the business environment.

The CBN, therefore, urged financial services providers and their customers alike to acquaint themselves with the provisions of the Guide and be properly guided accordingly.

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. Distinguished and honourable members of the

  emerging market growth rates, our domestic security challenges, declining oil prices, and the attendant di webapex.net fficulties in providing foreign exchange to meet market demands, the Nigerian economy grew by 2.84% in the third quarter of 2015. 9. We have, and will continue to implement strategies that will maintain macroeconomic stability and manage the oil price shocks we are experiencing. 10. Upon the inaugur westernmagazine.org ation of this administration on 29th May 2015, we engaged key stakeholders from various sectors of our economy and interfaced with the heads of Ministries, Departments and Agencies (MDAs) in order to understand the true state of our nation. What we found prompted us to take certain strategic decisions. 11. On the economy, we injected new leadership at the helm of our revenue generating agencies including the ysin.org Federal Inland Revenue Service (FIRS), Nigerian National Petroleum Corporation (NNPC), Nigerian Communications Commis
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