The Bank Customers Association of Nigeria (BCAN) has raised fresh concerns over unauthorized deductions from customer accounts, revealing that it has formally petitioned the Central Bank of Nigeria (CBN) to intervene. The disclosure was made by BCAN President, Uju Ogubunka, at the 2025 Artificial Intelligence Conference hosted by SuperNews under the theme “Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience.”
Ogubunka criticized the ongoing migration to the end-user billing model for unstructured supplementary service data (USSD), stating that the deductions fall outside the scope of CBN-approved bank charges. He stressed that if the central bank fails to address the issue, Nigerian bank customers may be forced to take public action.
“On the issue of excess charges, we’ve written to the Central Bank of Nigeria to find a permanent solution,” he stated. “If they don’t respond, perhaps customers will need to rise and demand action. Let’s hope it doesn’t get to that.”
He also voiced frustration over persistent dissatisfaction among bank customers, describing the current state of banking in Nigeria as largely unsatisfactory.
“Customer satisfaction doesn’t exist in the Nigerian banking system today. Petitions are flooding the CBN, NDIC, Bankers’ House, and law courts. If AI were fully embedded in the sector, many of these complaints would be non-existent,” he said.
The conference keynote speaker, Johnson Chukwu, provided insights into how artificial intelligence can transform Nigeria’s financial sector. He emphasized the role of AI in simplifying consumer credit, stating that telcos and banks now use advanced data analytics to assess creditworthiness based on customer behavior, income, and spending patterns—enabling instant loan approvals.
Chukwu highlighted the personalisation benefits of AI:
“With AI, every customer can be treated as a unique individual. The system knows your face, fingerprint, location, and preferences. This leads to better-targeted services and improved satisfaction.”
He further noted that AI’s vast data-processing ability would lead to quicker and more effective complaint resolutions.
“There are seven C’s for implementing AI—Capacity, Capability, Collaboration, Creativity, Cognition, Continuity, and Control. Without these, organizations risk becoming obsolete,” Chukwu warned.
As Nigeria’s financial ecosystem faces mounting scrutiny from consumers, industry stakeholders are increasingly looking to AI as a pathway toward efficiency, accountability, and personalized service. However, calls for regulatory action on unauthorized deductions highlight the need for a balanced integration of technology and consumer protection.
