Why CBN launched Client Criticism Administration System to banks

By Olawunmi Ashafa

The Central Financial institution Of Nigeria (CBN) has introduced the deployment of its Client Criticism Administration System (CCMS) to ease the method of addressing points.

The financial institution made the disclosure in a round on its Web site on Friday, saying the automated system would assist to ease criticism administration.

It stated the CCMS would finally enhance Nigerians’ confidence within the banking sector.

The financial institution additionally stated the transfer was a part of the apex financial institution’s job to make sure that the banking and finance sector was secure and conducive for all.

“The Central Financial institution of Nigeria (CBN) in furtherance of its mandate to advertise secure monetary system, launched into the event of a Client Criticism Administration System (CCMS).

“That is an automatic system geared toward easing complaints administration to engender public confidence within the monetary system.

“In view of this growth, the CBN has made it obligatory for banks and different monetary establishments to abide by three essential tips,” it stated.

The regulator stated that the banks must assign a monitoring to each criticism acquired from their respective clients.

It stated the banks additionally wanted to acknowledge receipt of each criticism via an e-mailed response.

This, it famous, would additionally embody the monitoring quantity that has been assigned to begin the importing of all complaints on the CCMS.

The CBN suggested banks and different monetary providers operators to make sure that they adhered to these stipulations which might begin on Jan. 2, 2019.

It added, “Failure to do that will entice sanctions in keeping with the Banks and Different Monetary Establishments Act (BOFIA), Cap B3, LFN 2004.”

Learn additionally: CBN duties monetary establishments on funding MSMES

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