Central Bank of Nigeria (CBN)Finemedium

Unknown (multiple Nigerian banks)

Nigeria

The Central Bank of Nigeria levied 21 penalties totaling ₦430 million against financial institutions during 2025 for infractions tied to complaints management. The fines targeted delays in resolving customer complaints and failures to comply with CBN consumer protection directives. Sanctions were disclosed in the apex bank's 2025 annual report, reported on Jul 29, 2026.

53% increase from the 20,925 recorded in 2024. The central bank attributed the rise to growing public awareness and stronger confidence in its complaint resolution process, not a decline in banking service quality. The enforcement action underscores an active regulatory stance on consumer protection across Nigerian financial institutions.

Implications
  1. Banks partnering with fintechs in Nigeria face heightened enforcement risk around customer complaints handling and consumer protection compliance
  2. Fintech-bank partnerships must ensure robust complaints-management processes and documented compliance with CBN directives to avoid substantial fines
  3. Signals broader global trend of regulators enforcing consumer protection standards in bank-fintech ecosystems
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