Against the backdrop of several complaints emanating from the banking public over services delivery and security in Nigeria’s nascent mobile banking environment, the Central Bank of Nigeria, CBN, is set to further improve the system.
The apex bank has also indicated that its consumer protection department is inundated with petitions and complaints mainly from the mobile banking activities.
Vanguard MoneyDigest inquest into the nature of the complaints shows that most of them relate to the loss of money due to either malfunctioned platforms or outright fraud.
At the Vanguard Economic Forum Series, recently, CBN’s Director of Banking and Payment System Department, indicated that the apex bank is aware of the challenges in the mobile money services and is set to address the problems as they have already emerged while putting structures and procedures in place to forestall other forms of services failures in the banks that undermine customers’ satisfaction and security of their money. Read more