Customers file 5.7m complaints against 10 Nigerian banks in one year

Ten of Nigeria’s top banks received 5.7 million customer complaints in a year, from January 1 to December 31, 2021.

The 2021 complaint figures represent a massive increase over the 2.69 million complaints received by banks from customers within the same period in 2020.

The 10 banks surveyed are Zenith, Guaranty Trust Bank, First City Monument Bank, United Bank of Africa, Access bank, Fidelity bank, Union bank, Sterling bank, Unity and Wema bank.

The figures were arrived at after analysing the 2021 annual financial reports of the banks submitted to the Nigerian Exchange.

According to Ripples Nigeria’s analysis of the banks’ reports, 583,702 of the 5.2 million customer complaints remained unresolved during the review period.

A breakdown of the figure of total unresolved complaints shows that Access bank leads the table in the number of complaints.

Access bank report shows that it received a total of 2.1m complaints in a year, with 306,116 unresolved.

Read also:Nigerian banks donate N41.8bn to police, women in one year

This is followed by the 907,715 received by Fidelity bank, of which 54,909 complaints are unresolved.

GT bank comes third in the number of customer complaints after recording a total of 673,772 complaints.

Out of this figure, only 1,605 were unresolved, an almost 100 per cent success rate.

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