Alleged Fraudulent Acts: CSOs protest at CBN, submits petition against bank

By Vivian Okejeme Abuja

A Coalition of Civil Society Organizations against Banks Fraudulent Practices and Customers Victimization, on Wednesday, staged a peaceful protest at the Abuja headquarters of Central Bank of Nigeria.
At the apex bank’s office, the group submitted a petition, which was received by the Acting Director, Corporate Communications, Central Bank of Nigeria.
The petition dated Monday 6th October, 2025, was addressed to Mr. Olayemi Cardoso, Governor, Central Bank of Nigeria, Abuja.
The protesters displayed placards with several inscriptions like; conspiracy; forgery; criminal breach of trust; taking loan is not a crime; stop suffocating your customers; theft; make loan repayment transparent etc.
Comrade Flora Elekwa, Director, Mobilization and Advocacy of the CSO, told officials of the CBN that the trend of fraudulent activities occasioned by unwarranted deductions is becoming alarming and portrays the banking sector in bad light.
The petition was signed by Comrade (Dr.) Sam Wisdom, National Coordinator; Comrade Flora Elekwa, Director, Mobilization and Advocacy; and Lady Cecilia Bisong, National Organizing Secretary.
The CSO stated that it is common knowledge that for a long time, bank customers have been at the mercy of some banks, which on a regular basis debit them for all manner of reasons, some of which are questionable and dubious including hidden charges.
When put together, according to Mrs Elekwa, “these charges amount to loss of millions of Naira by banks customers to the effect that banks declare trillions yearly as profit at the detriment of the customers who lacked the voice to complain.
“Even the regulatory agencies seem to be helpless in this situation.
“The street protest and advocacy match was aimed at drawing the attention of the government, regulatory authorities, and the general public to these unwholesome, illegal practices with a view to rectifying the situation”, Mrs Elekwa said.