The Bank Customers Association of Nigeria (BCAN) has raised alarm over what it describes as “excessive charges” on customers’ accounts, urging the Central Bank of Nigeria (CBN) to take urgent and permanent action.
At the forefront of this campaign is BCAN President, Dr. Uju Ogubunka, who revealed that the association has formally petitioned the CBN. The latest flashpoint is the transition to an “end-user billing model” for USSD transactions—a development Ogubunka says violates the list of approved banking fees.
Speaking at the 2025 Artificial Intelligence Conference hosted by SuperNews, themed “Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience,” Ogubunka didn’t hold back in his criticism of the current banking system.
“In today’s Nigerian banking, customer satisfaction is virtually non-existent,” he stated, citing the growing number of complaints and legal petitions as proof of widespread frustration.
However, Ogubunka expressed hope that Artificial Intelligence (AI) could help solve many of these persistent challenges. “If AI is here to stay, then many of the issues people are facing with their banks can be solved more efficiently,” he noted.
Keynote speaker and financial expert Johnson Chukwu expanded on AI’s potential. He explained that AI can transform lending by analyzing income and spending patterns using telecom data, allowing customers to get loans in minutes. He also emphasized AI’s strength in improving customer experience through faster complaint resolution and personalized banking services.
Chukwu also introduced the “Seven C’s” essential for implementing AI successfully: Capacity, Capability, Collaboration, Creativity, Cognition, Continuity, and Control. He warned that financial institutions that fail to embrace AI risk becoming obsolete.
As Nigerian bank customers continue to push back against rising costs, experts say the future of financial services could rest heavily on AI innovation—offering a path to both fairness and efficiency.
