The Bank Customers Association of Nigeria (BCAN) has written to the Central Bank of Nigeria (CBN) seeking urgent intervention over what it describes as persistent and unauthorized charges being deducted from customer accounts across the country.
This was revealed by BCAN President, Uju Ogubunka, during the 2025 Artificial Intelligence Conference hosted by SuperNews in Lagos on Thursday. Themed “Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience”, the event brought together stakeholders in the banking and fintech sectors.
Ogubunka expressed concern that many of the charges deducted from customer accounts particularly under the end-user billing model for Unstructured Supplementary Service Data (USSD) do not fall within the framework of fees approved by the CBN.
“On the issue of excess charges, we have formally written to the Central Bank of Nigeria seeking a permanent solution. If that doesn’t happen soon, Nigerian bank customers may have no option but to publicly demand accountability,” he warned.
Customer Satisfaction ‘Still Elusive’ Despite Digital Advancements
The BCAN President painted a grim picture of banking satisfaction levels in the country, arguing that many customers remain deeply frustrated by poor service delivery, even as banks boast of adopting digital and AI-driven tools.
“Let’s be honest customer satisfaction in Nigeria’s banking sector today is practically non-existent. The number of complaints, petitions, and legal disputes being filed daily at the Bankers’ House, CBN, NDIC, and mediation centres tells the real story,” Ogubunka said.
He noted that if artificial intelligence had truly taken root within financial services as advertised, many of the recurring issues such as transaction failures, poor response times, and vague charges would already be resolved.
AI’s Promise: Efficiency, Credit Access, and Complaint Resolution
Johnson Chukwu, the conference keynote speaker and a respected financial expert, spotlighted the immense potential AI holds for transforming Nigeria’s financial landscape especially in areas like consumer lending, customer experience, and fraud detection.
Chukwu said AI now enables instant consumer credit scoring, making it possible for financial institutions to offer small personal loans with minimal human involvement.
“Today, consumer credit is expanding because AI tools can assess your income and spending habits. Telcos know your payment patterns, your locations, even where you smoked last night. That data enables quick credit decisions you apply, and within minutes, the loan is disbursed,” he explained.
Chukwu also emphasized how AI can drive hyper-personalisation in service delivery.
“With AI, one million customers can be treated as one million unique individuals. The system recognises your face, fingerprint, and transaction behaviour. It tailors services that suit your lifestyle and financial goals.”
He added that the technology can also drastically reduce the time it takes to resolve complaints, citing AI’s ability to mine customer data and instantly identify root causes.
Seven C’s of Successful AI Implementation
Chukwu concluded his remarks with a framework for AI adoption in financial services, listing seven essential “C’s”:
Capacity, Capability, Collaboration, Creativity, Cognition, Continuity, and Control.
“Artificial Intelligence will shape the future of customer experience and service delivery. Financial institutions that fail to embrace it risk becoming irrelevant. The time to act is now,” he said.
