FCCPC backs CBN’s 48-hour refund rule for failed ATM transactions
[NigerianEye - Nigeria] - 13/10/2025
The Federal Competition and Consumer Protection Commission has commended the Central Bank of Nigeria’s proposed directive, which mandates banks to refund customers for failed Automated Teller Machine transactions within 48 hours.In a statement on Monday signed by its Director of Corporate Affairs, Ondaje Ijagwu, the Commission described the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria as a timely and long-awaited intervention that aligns with ongoing efforts to protect consumers in the financial services sector.The draft guideline, released last week, (…)
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