Polaris Bank Recognized For Best Deposit Money Bank Consumer Protection.


Polaris Bank has emerged the Best Deposit Money Bank in consumer protection in Nigeria’s banking industry.

It got this recognition at the Jos Bankers forum.

A statement said the award was presented during the forum’s annual dinner and award event which was organised by the Central Bank of Nigeria Jos branch, to recognise and reward DMBs for their performance during 2019 financial year.

The bank said the award was an attestation of the institution’s strong leadership in prompt resolution of transaction issues.

Speaking on the award, the Managing Director/Chief Executive Officer, Polaris Bank, Mr Tokunbo Abiru, thanked the organisers for their due diligence in selecting the bank among other awardees and recognising its performance in promptly resolving customer complaints.

On the challenges faced by customers over issues bordering on response to various customer complaints including ATM cash retract, excess charges and other E-channels dispute received from the CBN for resolution, Abiru noted that particular steps were taken to resolve them.

He stated that these occurrences which experts ascribed to infrastructure deficit, remained the most common pain points among customers who engaged in banking transactions which banks and relevant stakeholders were doing all within their powers to ameliorate for the benefit of customers.

He said, “For us at Polaris Bank, because we know how embarrassing cash retract and other payment service challenges can be for customers, we ensure that their complaints are promptly and satisfactorily resolved with feedback to the CBN.”

Other categories of awards recognised at the event include: Best DMB in Banking Activities; Best DMB in Corporate Social Responsibility; Best DMB in Financial Inclusion and Best Micro Finance Bank in Plateau State. The awards were presented based on how DMBs responded to various customer complaints within the year.


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