FCCPC Commends CBN's 48-Hour Refund Policy for Failed ATM Transactions

The Federal Competition and Consumer Protection Commission (FCCPC) has commended the Central Bank of Nigeria (CBN) for introducing a 48-hour refund policy for failed ATM transactions. The initiative aims to address consumer grievances related to unauthorized deductions and delays in refunds.

Tunji Bello, the Executive Vice Chairman of FCCPC, lauded CBN's decision, emphasizing the importance of aligning with consumer protection regulations. The policy seeks to enhance consumer trust in financial services and promote fair dealing.

Consumers are encouraged to lodge complaints with the CBN and FCCPC for resolution.