404 Countdown to #NoBankingDay | Consumer Advocacy Foundation of Nigeria
Open Counsel to the CBN- Fola Daniel Adelesi
February 10, 2016
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Countdown to #NoBankingDay

It’s one week to D-Day. Countdown begins tomorrow as we mobilize Nigerian Bank Consumers to boycott banking services for one day in protest of excessive bank charges.

Mass Media mobilization has been awesome! We have been on almost every national daily newspaper, been on Punch Frontpage headline and even featured as an editorial in The Nation newspaper. Tribune featured an interview with me in two full pages while many other papers are running follow up features after the news stories.

Electronic media has also been extensive. From Wave FM Port Harcourt, Classic FM, Beat FM, Naija FM, Radio Continental, Faaji FM, Radio Lagos, to MiTV, Channels TV, BTVA, Liberty TV Kaduna, NTA Lagos, CNBC Africa, TVC, LTV, AIT, and still counting.

All the media attention is to testify to the topical nature of our protest. Excessive bank charges is a national concern and critical to the sustainability of the Nigerian economy because it affects consumer confidence in the financial sector.

Consumers no longer trust the banks and that will affect the economy because the banking industry is at the heart of any economy. If CBN can acknowledge that a whooping N6.2bn was refunded to aggrieved consumers as illegal charges to their accounts, one can only imagine how much the banks rake in in fraudulent charges. To improve consumer confidence, these illegal charges must stop!

So we are on home run! The campaign has been dependent on peer broadcast, one reach one strategy, word of mouth, online broadcasts and massive goodwill from consumers who identify with the grievance…and the wonderful media platforms that have helped to pole vault it to national attention.

Will all Nigerians abide? Maybe not. But if only 20% of consumers boycott the banks on March 1, 2016, we would have succeeded in sending the signal that we can mobilize ourselves to fight for our rights.

I hear the banks do not take us serious because they are banking on the Nigerian tendency to be self centered. But I am optimistic that we will surprise them as more Nigerians will show solidarity for resisting exploitation.

It’s not over till it’s OVER…lets keep spreading the word.

It’s Consumer Action Time!

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