Nigerian Banking Complaints Jump 143% in First Half of 2025

The Central Bank of Nigeria received 10,704 customer complaints in the first half of 2025. This represents a 143.3 percent increase from the 4,398 complaints recorded in the same period last year. The CBN resolved 9,771 of these complaints during H1'25. The data comes from the bank's latest Financial Stability Report.

Why the Complaint Surge Matters

The sharp rise in complaints signals potential stress in Nigeria's banking sector. Customers face issues with digital transactions, account access, and service delays. The CBN's Consumer Protection Department handles these grievances. A high complaint volume can erode public trust in financial institutions. It may also indicate operational challenges for banks during economic uncertainty.

Key Complaint Categories and Resolution Rates

The CBN did not break down complaint types in its latest report. Previous reports cited issues with electronic banking, unauthorized charges, and loan disputes. The bank achieved a 91.3 percent resolution rate for the 10,704 complaints received. This leaves 933 cases unresolved from the first half of 2025. Resolution timelines typically range from two to six weeks depending on complexity.

Banking Sector Context and Regulatory Response

Nigeria's banking sector includes major players like Access Bank, Zenith Bank, and United Bank for Africa. These institutions serve over 40 million active bank accounts nationwide. The CBN requires all banks to maintain internal complaint desks. Customers must first escalate issues to their banks before approaching the CBN. The regulator can impose fines up to ₦2 million (approximately $1,300) for unresolved complaints.

Why It Matters for Nigeria's Economy

Banking confidence directly affects economic activity. Nigeria's GDP grew by 2.98 percent in Q1 2025 according to the National Bureau of Statistics. Financial services contribute about 3.5 percent to GDP. Customer complaints at this scale could slow digital adoption. Only 45 percent of Nigerian adults used formal financial services in 2024 per EFInA data. Service issues may push people toward informal alternatives.

What Businesses Should Watch

Companies should monitor their banking relationships closely. Expect potential delays in transaction processing and customer service responses. Review your bank's complaint resolution track record. Consider diversifying banking partners if service issues persist. The CBN may introduce stricter consumer protection measures in coming months. Prepare for possible regulatory changes affecting banking operations.

The Path Forward for Nigerian Banking

The CBN will likely increase its oversight of consumer protection practices. Banks must invest in better customer service infrastructure. Digital banking platforms need more robust error handling. Training frontline staff remains critical for complaint reduction. The banking sector's stability depends on maintaining public confidence. Resolving customer issues efficiently supports broader financial inclusion goals.

Concrete Steps for Affected Customers

Customers should document all banking issues with dates and reference numbers. First contact your bank's customer service department. Escalate to the bank's complaint unit if unresolved within two weeks. File a formal complaint with the CBN Consumer Protection Department if the bank fails to respond. The process requires submitting a complaint form with supporting evidence. The CBN aims to resolve most cases within 30 working days.

Looking Ahead to Second Half 2025

The CBN will publish its next Financial Stability Report in early 2026. It will reveal whether complaint volumes continue rising. Banking sector performance indicators suggest ongoing challenges. Non-performing loans stood at 4.1 percent in Q4 2024 per CBN data. Inflation remains elevated at 28.9 percent as of May 2025. These factors may contribute to continued customer dissatisfaction with banking services.