By RARZACK OLAEGBE
A madam lost her husband, and she had to operate his bank account. She discovered her husband’s password in one of his old diaries. She made some transfers for the family. The transfer process was successful. The funds did not drop nor reverse. She visited the bank’s branch. Then the headquarters. For 15 years, the bank did not resolve the matter internally.
On the one hand
The matter above is an outlier. Other cases that have passed through the banks’ radar are usually routine. Some customers have experienced ATM dispensing errors. Others have failed transactions or error debit, etc. The banks usually tidy these matters neatly. The madam’s story contained strings of forex, and money-laundering suspicion was out. Why has the bank not released the funds?
On the other hand
When matters as this occur, the sure bet is to involve the Nigeria Deposit Insurance Corporation [NDIC]. If a bank cannot solve your banking problems in two weeks, do not waste time. Escalate the matter. Email the NDIC.
In the long term
The NDIC has the mandate to wade into the case of a bank customer. This can happen if the bank did not resolve the case internally. Or in the case of liquidation. For instance, the case of the liquidated Heritage Bank. A friend was glad the NDIC was involved in the Heritage Bank snafu. She got her funds.
At the Lagos International Trade Fair, the CEO of NDIC, Olawale Sule, reiterated the corporation’s directive to banks to solve customers’ complaints in two weeks. The CEO warned that customers should report unresolved cases after the two-week deadline to the corporation.
We have directed all banks to resolve customer complaints within two weeks. If, after that period, the issue remains unresolved, depositors are free to report the complaints to the NDIC through any of our available channels.
The NDIC is the central point of resolving bank customers’ complaints. It is a sure way to ensure your funds are safe with the banks. One of the mandates of the NDIC is to supervise the banks. Manage complaints. Resolve bank customers’ issues promptly.
Besides, the overall goal of the NDIC is to build public and investors’ confidence in the financial system. To achieve this, the NDIC must ascertain that the banks are transparent in their dealing with the customers. NDIC insured the banks. It is in the interest of the NDIC that the banks treat customers decently. That means attending to customers’ challenges promptly. Email your complaints to [email protected]. The NDIC goal is to protect your funds and ensure transparency.
In the short term
You can solve banking challenges – not in 15 years – in 10 working days.
*Olaegbe ([email protected])
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