Over N50bn excess charges imposed by banks on their customers has been recovered by the  Central Bank of Nigeria.

Mr. Isaac Okorafor, the Acting Director, Corporate Communications, CBN,  made this known at the ongoing Abuja International Trade Fair on Wednesday.

Okorafor said that the CBN was working to ensure that banks do not over charge their customers he advised them to visit the apex bank’s website to get adequate information on approved charges.

Adding that the Consumer Protection Department of the CBN, had in the last three years helped customers who complained to recover more than N50bn in excess charges imposed by banks.

He encourage every bank users who had issues with charges being collected by banks to complain to the appropriate quarters so that their issues could be resolved.

Okorafor also stated that the bank had given a total of N43.92bn to farmers through its Anchor Borrowers’ Programme.

He said, the agricultural intervention programme of the bank, being executed in association with 13 banks, has benefited 200,000 smallholder farmers from 29 states of the federation.

The CBN spokesperson also said that 233,000 hectares of farmland were currently being cultivated with eight commodities, including rice, wheat, maize, cotton, soya beans, cassava and groundnut through the intervention programme.

He said, “At harvest, the smallholder farmers supply their produce to the agro-processor, who pays the cash equivalent to the farmer’s account.

“We cannot let our farmers go hungry while we enrich farmers from other countries. This is why we said for some certain items, which are 41 in number, if you want to import any of them, go and look for your own foreign exchange.

“As a complementary measure, we put in place the Anchor Borrowers’ Programme for agriculture to make farmers rise up and fill the space and gap created by the non-importation of those items.”


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