Access, UBA, GTB, 4 other Banks Receive 6.9m Customers Complaints Demanding N214.32bn Refund

New data has revealed the list of Nigerian banks with the most customer complaints in one year. Access and United Bank of Africa Banks are at the top of the list, which includes six other banks.

The surge in customer complaints in banks is linked to the rise in electronic transactions.

Seven of Nigeria’s top commercial banks have reported receiving 6.9 million customer complaints in a year, from January 1 to December 31, 2022.

2022 complaint figures represent a 54 percent increase or 2.42 million complaints more than the 4.48 million customer complaints received by the surveyed banks in 2021.

These figures were captured in the banks’ annual financial reports, which were submitted to the Nigerian Exchange.

The seven banks surveyed are Access Bank Holdings Plc, Zenith Bank Plc, Wema Bank Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc, Guaranty Trust Holding Company, and Jaiz Bank Plc.

Breakdown of Nigerian banks customer complaints

Legit analysis of the banks’ reports shows that out of the total complaints, 6.76 million were resolved, while 142,636 were carried over to 2023.

A further breakdown reveals that Access Holdings Plc had the highest number of customer complaints with 2,824,735, followed by United Bank for Africa Plc with 1,408,062, and Guaranty Trust Holding Company with 1,006,380 complaints.

Breakdown of customers’ complaints by banks

Access Bank Holdings Plc received 2.82 million

Zenith Bank Plc- 475,499

Wema Bank Plc – 404,179

Union Bank of Nigeria Plc – 673,709

United Bank for Africa Plc – 1,408,062

Guaranty Trust Holding Company – 1 million

Jaiz Bank Plc – 118,429

Refund Demanded by banks

Zenith Bank Plc – N17.58bn

Wema Bank Plc – N1.47bn

Union Bank of Nigeria Plc – N30.47bn

United Bank for Africa Plc – N86.34bn

Guaranty Trust Holding Company – N2.16bn

Jaiz – N863.09m

It is important to note that most of the demands were met. [LEGIT]