The Central Bank of Nigeria (CBN), in partnership with the Nigerian Communications Commission (NCC), has announced plans to introduce a universal short code for banking complaints.
This collaborative effort aims to create a more accessible and efficient complaint resolution mechanism for all bank customers, irrespective of their internet connectivity.
This forthcoming system is intended to promote financial inclusion by extending complaint services to individuals who may not have access to smartphones or consistent internet service.
By dialing a simple short code, customers will be able to communicate with their banks and seek redress for grievances, thereby reducing the necessity of physical branch visits.
Dr. Aisha Isa-Olatinwo, the CBN’s Director of Consumer Protection and Financial Inclusion, highlighted the existing digital divide that hinders many customers from resolving banking issues.
She stated that the universal short code will foster inclusivity by providing all customers with equitable access to complaint resolution avenues.
The CBN has reportedly strengthened its consumer complaint management framework and deepened its collaboration with deposit money banks, who are recognized as frontline protectors of the financial system.
