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The short answer
The CBN's Bank Customers' Bill of Rights gives you eight rights: to be informed, to choose, to safety, to privacy and confidentiality, to redress, to good service, to equality and to a free monthly statement (special requests may cost ₦50 a page). If your bank does not resolve a complaint within two weeks, you can escalate it to the CBN Consumer Protection Department at cpd@cbn.gov.ng.
Last updated: October 2026
Nigerian bank customers have a written set of rights published by the Central Bank of Nigeria (CBN), backed by a complaints route that ends at the CBN's Consumer Protection Department. This page puts the rights, the duties that come with them, the complaint timelines and the main proposals in the CBN's draft revised regulations in one place, with the date and source of each.
- Rights in the Bill of Rights
- 8
- Duties in the Bill of Rights
- 6
- Monthly statement
- Free; special requests may be charged ₦50 per page
- Time to give your bank
- 2 weeks (CBN complaints guidance, based on the 2011 ATM Help Desk circular)
- Escalation
- CBN Consumer Protection Department, cpd@cbn.gov.ng
- Main rulebook
- CBN Consumer Protection Regulations, dated 22 December 2019
- Draft update
- Exposure draft of Revised Consumer Protection Regulations 2.0, dated December 2023
The eight rights, in plain English
The Bank Customers' Bill of Rights is published on the CBN's financial literacy pages. The wording below is our summary; the right names are the CBN's own.
| Right | What it means for you |
|---|---|
| The right to be informed | Complete, relevant and truthful information about products, with terms and charges explained before you agree |
| The right to choose | Pick the products you want at competitive prices, decline the ones you do not, and end the relationship once you have settled what you owe |
| The right to safety | A secure environment in bank premises, in line with safety laws |
| The right to privacy and confidentiality | Your account details are not disclosed to third parties unless the law requires it or you consent |
| The right to redress | A free, accessible, transparent and timely complaints process, with updates, reasons for decisions, and review by the bank, the CBN or the courts |
| The right to good service | Value for money, respectful treatment and a proper response to complaints |
| The right to equality | Equal treatment regardless of financial standing, ability, age, gender, ethnicity or creed; product-based privileges are allowed |
| The right to free monthly statement of account | One free statement a month; special requests may cost ₦50 per page |
The six duties that come with them
The same document lists customer duties. They matter in disputes: a bank will point to them when it argues a loss was caused by the customer.
| Duty | In practice |
|---|---|
| Knowledge and understanding | Read terms and ask questions before you sign |
| Financial obligation | Repay credit and agreed interest on time to avoid default charges |
| Protect instruments and information | Keep cards, cheque books, PINs, passwords and codes safe; the Bill of Rights says banks are not responsible for losses caused by customer negligence |
| Provide factual information | Give accurate details about yourself and your transactions |
| Report suspected fraud or error | Tell the bank promptly about fraud, compromise or wrong postings |
| Personal safety and safety of assets | Take reasonable care of yourself and your property on bank premises |
How to use the right to redress
The CBN's complaints management page sets out a two-stage route. It says you must first report the complaint at the bank or branch where the issue started, then allow two weeks for it to be resolved, though some banks take less. Only if the bank fails to resolve it in that time can you go to the CBN.
| Stage | Who | Timeline | Source |
|---|---|---|---|
| 1. Complain | Your bank or branch where the issue originated | Allow 2 weeks | CBN complaints management page |
| 2. Escalate | CBN Consumer Protection Department: cpd@cbn.gov.ng, or a letter to the Director, Consumer Protection Department, Central Business District, Abuja, delivered to Head Office or any CBN branch | After the 2 weeks lapse | CBN complaints management page |
| Draft rule: no acknowledgement | Escalate if the institution fails to acknowledge within 3 days | 3 days | CPR 2.0 exposure draft, 8.2(b) |
| Draft rule: deadline to escalate | Complaints can go to the CBN within 90 days of the institution's decision | 90 days | CPR 2.0 exposure draft, 8.2(c) |
The CBN says your letter should include your name, address, phone and email; the institution's name; your banking details, but never your PIN or passwords; the history and date of the disputed transaction; the amount claimed; supporting documents; and evidence that you complained to the bank first. Our bank complaint letter template follows that list, and how to complain about a bank or fintech covers which regulator handles which problem.
What the draft revised regulations propose
The CBN published an exposure draft of Revised Consumer Protection Regulations 2.0, dated December 2023 on its cover. An exposure draft is for consultation. When we checked the CBN's consumer protection document list in October 2026, it showed the 2019 Regulations and did not show a final 2.0 version, so treat these as proposals.
| Proposal | Figure in the draft | Clause |
|---|---|---|
| Cooling-off on credit contracts | 3 working days, no penalty to cancel | 5.2.8 |
| Time to review a draft contract | At least 2 working days, unless waived in writing | 5.2.7 |
| Notice of changes to rates or terms | At least 5 working days | 4.1.6 |
| Monthly statements | Free for all products | 5.4.1 |
| Loan discharge letter | Free, within 5 working days of paying off | 4.5.8 |
| Reasons for a loan decline | Within 10 working days | 4.5.9 |
| Service interruption notice | Within 12 hours; 48 hours before planned disruption | 4.2.12 |
| Choice of third-party providers (for example insurance) | At least 3 | 4.5.5 |
| Early liquidation fee on variable-rate consumer and MSME loans | None | 4.1.9 |
| Fees for products you did not request | Prohibited | 4.2.7 |
| Complaint records kept | At least 6 years | 8.1.14 |
Worked example
Example only. On 2 March, Ngozi notices a ₦3,000 card maintenance charge she does not recognise. She emails her bank's complaints address the same day with a statement extract and asks for an explanation or reversal. By 16 March, two weeks later, she has had no resolution. She emails cpd@cbn.gov.ng with her details, the bank's name, the date and amount, a copy of her 2 March email and the statement, and states that she has not shared her PIN. For whether a charge is within the caps, see our summary of the CBN Guide to Charges.
How we compiled this
Rights and duties are summarised from the CBN's Bank Customers' Bill of Rights page. The two-week rule and the CBN contact details come from the CBN's complaints management page, accessed October 2026; we decoded the email address shown on that page. Draft provisions come from the CBN's Revised Consumer Protection Regulations 2.0 exposure draft, dated December 2023. Document dates (Regulations 22 December 2019; Consumer Protection Framework 8 November 2016) come from the CBN consumer protection document list. A 2023 Mondaq summary was used as a cross-check and agrees on the rights and the ₦50 figure.
Where Pryme fits
Pryme Financial Ltd is a technology company, not a bank. Naira deposits in a Pryme account are held by Solid Allianze Microfinance Bank Ltd, which is licensed by the CBN, so the CBN complaint route applies. Pryme customers can generate a verifiable statement or receipt through the VerifyDoc.ai partnership, which helps when a complaint needs evidence that has not been altered. See how Pryme works.
Questions people ask
Can my bank charge me for a statement of account?
The CBN Bill of Rights says you are entitled to a free monthly statement; special requests may be charged at ₦50 per page.
How long should a bank take to resolve my complaint?
The CBN's guidance is two weeks from when you report it to the bank or branch. If it is not resolved, you can escalate to the CBN Consumer Protection Department.
What is the CBN complaint email?
cpd@cbn.gov.ng. You can also deliver a letter to the Director, Consumer Protection Department, at CBN Head Office in Abuja or any CBN branch.
Is there a cooling-off period for bank loans in Nigeria?
The CBN's December 2023 exposure draft proposes three working days for credit contracts. It is a draft; check whether a final version has been issued.
Sources
- CBN: Bank Customers' Bill of Rights and Duties · accessed Oct 2026
- CBN: Complaints management (Consumer Protection) · accessed Oct 2026
- CBN: Exposure draft, Revised Consumer Protection Regulations 2.0 (December 2023) · accessed Oct 2026
- CBN: Consumer protection documents list · accessed Oct 2026
- Mondaq: An overview of the rights of bank customers in Nigeria (15 May 2023) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.