Nigerian Banking Industry Services: Hospitable or Intimidatory?

  • Anyalechi, Kenneth Chikezie
  • E. Chuke Nwude


This study investigated the nature of banking practices in the Nigerian banking space. The methodology adopted was field research combined with personal interview. The researcher interacted heavily with numerous bank customers, bankers and the regulators of banking business in the country. The findings of the study show enough evidence that warrant the classification of some of the banking practices as inhospitable, unethical and intimidatory in nature. As a result the Central Bank of Nigeria is hereby advised to improve its capacity and the will to enforce its rules, especially on transaction charges, and to punish those who circumvent them. The apex bank should streamline transaction charges and ensure that banks stick to globally accepted fees. Customers should know the terms and conditions applicable to each transaction accounts opening before putting pen to paper to avoid unnecessary charges/deductions and also complain if there are arbitrary charges.