Routine banking transactions carried on nationwide as the #NoBankingDay boycott rolled out its campaign aimed to raise awareness of predatory and illegal fees imposed by banks on Nigerian customers.
According to Lagos residents speaking with a SaharaReporters correspondent many of them were unaware that a boycott was even planned today. Our SaharaReporters correspondent in Lagos reported that droves of Nigerians patronized banks this morning like any other day.
One Lagos resident, waiting in line at an ATM, disclosed to our correspondent that he “was not aware of a scheduled boycott today.”
According to a report by Channels TV, some residents in Lagos said that they thought No Banking Day meant some banks would not offer services to customers rather than it being a boycott against greed.
The boycott was organized by the Consumer Advocacy Foundation of Nigeria (CAFON) and the Coalition of Nigerian Consumer Protection Association today, March 1st, requesting that customers not enter banks, make transfers, deposits or use their credit cards all day.
The Central Bank of Nigeria, reacting to CAFON’s call to boycott banks, disclosed that N6.2 billion in excess and illegal charges were refunded to customers in 2015, according to reporting by the Punch newspaper.