Malami, Salisu and Mohamed Yusoff, Zuryati (2017) Legal regime for the protection of banking consumers in Nigeria: An overview. UUM Journal of Legal Studies, 8. pp. 87-112. ISSN 2229-984X

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Abstract

Bank customers/consumers are the drivers of the banking industry.Their protection should be a priority.This is because consumer protection boosts consumer confidence and enhances banking quality.This may be the reason the Central Bank of Nigeria (CBN) made consumer protection part of its reform policies in the banking industry. This paper examined the legal regime on banking regulation and consumer protection. The banking sector regulatory laws were critically examined. These included the Consumer Protection Council Act, 1992, the Banking Act 1969, and the Central Bank of Nigeria Act 2007, etc. The analysis revealed that the banking laws and the regulatory institutions provide inadequate protection for the banking consumer. This is a cause for concern to the banking consumers in the country. This state of things could be considered as the contributory fact or for growing consumer rights abuses and humiliation in the Nigerian banking industry.

Item Type:	Article
Uncontrolled Keywords:	Consumer abuses, Legal regime, Central Bank, Regulatory, Nigeria
Subjects:	K Law > KZ Law of Nations
Divisions:	School of Economics, Finance & Banking
Depositing User:	Mrs. Norazmilah Yaakub
Date Deposited:	11 Nov 2018 00:50
Last Modified:	11 Nov 2018 00:50
URI:	https://repo.uum.edu.my/id/eprint/25129

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