The Bank Customers Association of Nigeria has formally petitioned the Central Bank of Nigeria over what it described as persistent and unauthorized deductions from customers’ bank accounts.
According to The PUNCH, this revelation was made by BCAN President, Dr. Uju Ogubunka, during the 2025 Artificial Intelligence Conference hosted by SuperNews. Themed “Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience,” the event gathered experts to explore how AI could reshape Nigeria’s financial services.
Ogubunka criticized the CBN-approved charges currently being deducted through the end-user billing model for unstructured supplementary service data (USSD), describing them as “outside the regulatory scope” and a growing burden on customers.
“We have submitted a letter to the Central Bank, urging them to address these excess charges. If this continues without a permanent solution, customers may be left with no choice but to demand action through other means,” Ogubunka stated.
He also decried the poor experiences many bank users face, suggesting that the full potential of AI has yet to be utilized in the Nigerian financial system.
According to him, “When you speak of customer satisfaction in Nigerian banking, the reality is disheartening. Petitions are piling up at CBN offices, mediation centres, and even in courtrooms. If satisfaction were truly present, we wouldn’t be seeing this level of dissatisfaction.”
He added, “AI, if well deployed, could solve a lot of these problems. But as things stand, it hasn’t fully integrated into our system.”
Delivering the keynote address, financial expert Johnson Chukwu emphasized the potential of AI to improve banking services, especially in consumer credit and complaint resolution.
“AI systems today can analyze your income, track spending patterns, and even determine loan eligibility. That’s why we now have instant loans — you apply, and within minutes, the money is in your account,” Chukwu explained.
He also highlighted the benefit of personalized customer service powered by AI. “AI allows banks to treat one million customers as individuals — it knows your face, fingerprint, and spending behavior. It tailors services to suit each person’s needs.”
Chukwu concluded by outlining the “Seven Cs” necessary for successful AI adoption: Capacity, Capability, Collaboration, Creativity, Cognition, Continuity, and Control. He warned that any institution reluctant to embrace AI risked becoming obsolete in the rapidly evolving financial ecosystem.
“Artificial intelligence will shape the future of human experience. Institutions that fail to integrate it will struggle to remain relevant,” he said.
