CSOs protest at CBN headquarters, accuse Sterling Bank of fraud, exploiting customers
A coalition of civil society organisations (CSO) against Banks Fraudulent Practices and Customers Victimization, Wednesday, staged a peaceful protest at the Abuja headquarters of Central Bank of Nigeria (CBN) and an Abuja branch of Sterling Bank Plc.
At the apex bank’s office, the group submitted a petition, which was received by the Acting Director, Corporate Communications, CBN.
The petition dated Monday 6th October, 2025, was addressed to Mr. Olayemi Cardoso, Governor CBN.
The protesters displayed placards with several inscriptions like; conspiracy; forgery; criminal breach of trust; taking loan is not a crime; Sterling Bank Plc stop suffocating your customers; theft; make loan repayment transparent etc.
Comrade Flora Elekwa, Director, Mobilization and Advocacy of the CSO, told officials of the CBN that the trend of fraudulent activities occasioned by unwarranted deductions is becoming alarming and portrays the banking sector in bad light.
The petition was signed by Comrade (Dr.) Sam Wisdom, National Coordinator; Comrade Flora Elekwa, Director, Mobilisation and Advocacy; and Lady Cecilia Bisong, National Organising Secretary.
The CSO stated that it is common knowledge that for a long time, bank customers have been at the mercy of some banks, which on a regular basis debit them for all manner of reasons, some of which are questionable and dubious including hidden charges. She said the coalition was starting with Sterling Bank on Monday and would picket other banks later.
When put together, according to Mrs Elekwa, “these charges amount to loss of millions of naira by banks customers to the effect that banks declare trillions yearly as profit at the detriment of the customers who lacked the voice to complain.
“Even the regulatory agencies seem to be helpless in this situation.
“The street protest and advocacy match was aimed at drawing the attention of the government, regulatory authorities, and the general public to these unwholesome, illegal practices with a view to rectifying the situation” Mrs Elekwa said.
Particularly, the group pleaded with the CBN as a supervisory government agency responsible for monitoring and supervision of all banks and financial institutions in Nigeria to immediately ask the management of Sterling Bank to refund customers’ money.
Responding, the Acting Director, Corporate Communications, CBN, assured the protesters that their grievances would be addressed, and thanked the group for organising a peaceful protest.
Similarly, the group headed to the office of Sterling Bank in Abuja’s Central Business District, to submit a petition.
However, the bank authorities didn’t come out to address the group of protesters who felt slighted and disrespected.
For over two hours, the very large number of protesters occupied the frontage of the bank’s office, chanting and singing, while many passers by joined them, and voiced out their anger against the punitive charges many banks make against their customers.
