Umaru Ibrahim, managing director and chief executive officer, Nigeria Deposit Insurance Corporation (NDIC), has advised deposit money banks (DMBs) to give priority attention to the issue of consumer protection to promote better service delivery and increase confidence in the financial system.
Ibrahim gave the advice in his remarks during a courtesy visit by Nnamdi Okonkwo, the new managing director/chief executive officer of Fidelity Bank Plc., to the NDIC corporate office.
The NDIC CEO maintained that as a deposit insurer and bank supervisor, NDIC placed great premium on consumer protection, adding that it had taken many steps to promote consumer protection through the establishment of a dedicated 24-hour toll-free help desk in the corporation to enable depositors and other bank customers lodge their enquiries and or complaints for prompt investigation.
He also informed the meeting that a complaints unit had been established in the bank examination and special insured institutions departments of the corporation to cater for the customers of deposit money banks and microfinance/primary mortgage banks (MFBs/PMBs).
While advocating conscious and concerted efforts to improve consumer protection, Ibrahim advised all the insured banks to establish consumer complaints desks at their head office and branches to facilitate and promote prompt response to consumer protection issues.
He also tasked the insured banks, as members of the Bankers’ Committee, to show more commitment towards the adoption and promotion of initiatives such as financial literacy, financial inclusion and sustainable banking to engender confidence in the entire financial sector.
