The branch controller of the Central Bank of Nigeria (CBN)  in Anambra State, Mr Azubuike Okoro, says commercial banks are duty bound to educate their customers on their charges.

Okoro, in an interview with newsmenin Awka on Thursday, advised all financial institutions to be more open with their charges on transactions.

He said commercial banks were business outfits that rendered financial services for fees, but that such fees ought to be known by the customer.

He said that adequate knowledge of bank charges would deepen the participation of more people in the sector.

“The Governor of the CBN, Malam Sanusi Lamido Sanusi, has made it clear that there will be no more charges on ATM withdrawals, even from another bank.

“Any customer that notices such a charge has the right to complain to his or her original bank.

“And if the complaint is not properly addressed, the customer can come before the CBN’s Consumer Protection Department,“ he said.

Okoro said that it was unethical for any bank to debit any customer’s account for an unauthorised charge.

He said that explanation of certain charges on a peculiar transaction to the customer would enhance bank-customer relations.

“I don’t think any bank deliberately charged any of its customers inappropriately for service or services not rendered.

“But all charges by the banks should be clearly explained to the customer, like interest and administrative charges on loans to customers, “ Okoro said.

He urged commercial banks to make effective use of their Customers’ Desk Officers to address the plights of their customers.

“And the banking public should feel free to seek clarification for any perceived irregularities because they have the right to know what is happening to their accounts, “ he said.