Nigerian bank customers, others most dissatisfied in 9 months

COMPLAINTS about services in the financial sector made a third of all cases filed with the consumer protection commission.

Consumers complained by far about services they received from banks and the entire financial services sector for most of 2020, according to government data.

Complaints about services in the sector made 33 per cent — a third — of all cases filed by consumers to the Federal Competition and Consumer Protection Commission (FCCPC) between January and September 2020.

The sector was followed by the electricity and power sector which received 21 per cent complaints against its services. Together, the two sectors got more than half of several thousands of complaints filed.

The Executive Vice Chairman of FCCPC, Babatunde Irukera, had earlier disclosed that the commission received the highest consumer-related complaints from the electricity, banking and telecommunications sectors in 2020.

Data made available by the agency provided more details about the degree of customer dissatisfaction in the country.

They show that seven per cent of the complaints were about the telecommunications sector, while six per cent was about e-commerce.

Aviation followed with five per cent, electronics had four per cent, satellite/ cable services had four per cent and road transport was two per cent.

Courier services, land/construction, education, food/beverages, real estate/mortgages all accounted for one per cent each.

In December 2020, leading audit and professional services company, KPMG Nigeria, ranked Ecobank Nigeria among the top three banks with good customer experience in the Small and Medium Enterprises (SME) segment.

KPMG’s Nigeria banking industry customer experience survey measures the performance of lenders in the country in terms of their relationship with their account holders and other users of financial services.

The 2020 survey covered 15,056 retail customers, 1,856 SMEs and 332 commercial/corporate organizations. Respondents were selected from customers who have interacted with their bank in the last six months.

According to the report in the SME category, Sterling Bank, Union Bank and Ecobank were the top three. They were trailed by Zenith Bank and FCMB. Specifically, the report stated that respondents were impressed with the interaction between Ecobank and its customers during the COVID-19 pandemic lockdown, stressing that the bank was able to provide personalized service to its respective customer segments.

“The remote working arrangements resulting from the COVID-19 pandemic have further constrained banks from catering to this stated need. While many banks struggled with providing dedicated relationship managers to SMEs, other banks quickly adapted by developing ‘how-to’ guides for their relationship managers to navigate client relations during the pandemic. Ecobank, FCMB and Union Bank are rated as the top banks in the delivery of personalized experiences,” the report stated

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