Newsletter On Rights And Duties Of Bank Customers In Nigeria

On January 27, 2022, the Central Bank of Nigeria (‘’the CBN’’) released a circular on rights and obligations of bank customers. According to the CBN, the customer is the most important person in the economy and every business succeeds only when the customer is happy. This explains why the customer is regarded as king. As a king, the customer has many rights. However, a king also has duties, which he owes himself and the society.

This write-up articulates some of these rights and duties guaranteed by law, regulations and conventions.

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