Bank Customers Association flags unauthorized deductions linked to new USSD billing model.
At AI conference, leaders urge tech adoption and stronger regulation to protect Nigerian account holders.
The Bank Customers Association of Nigeria (BCAN) has disclosed that it has formally written to the Central Bank of Nigeria (CBN), raising concerns over unexplained charges being withdrawn from customers’ accounts.
This was revealed by the BCAN president, Uju Ogubunka, during the 2025 Artificial Intelligence Conference hosted by SuperNews. The event, themed “Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience,” brought together financial and tech industry stakeholders to explore how artificial intelligence can transform banking services in Nigeria.
The BCAN’s letter to the apex bank was prompted by the recent shift to an end-user billing system for unstructured supplementary service data (USSD), which has seen deductions made directly from customers’ bank balances. Ogubunka criticized the new billing model, describing it as unauthorized and outside the scope of charges the CBN had approved for banks.
“We have officially written to the Central Bank of Nigeria, asking them to address these excess charges once and for all. If they fail to take meaningful action, Nigerian bank customers might have to take more visible steps to demand accountability,” Ogubunka stated during his address at the conference.
Nigeria’s banking experience far from ideal
Ogubunka did not hold back in critiquing the customer experience offered by Nigerian banks, claiming that it falls well below acceptable standards. He argued that artificial intelligence (AI), if properly deployed, could be the solution to many of the issues frustrating customers.
“In reality, customer satisfaction in Nigeria’s banking system is a myth,” he declared. “Petitions are piling up at the Bankers’ House, at the CBN, NDIC, mediation centers, and even in the courts. If customers were truly satisfied, these grievances wouldn’t exist.”
He pointed out that while AI is positioned to improve service delivery, its full potential has not yet been realized in the country. “If AI were fully integrated into our systems, many of these issues would be addressed swiftly and automatically,” Ogubunka added.
AI Can revolutionize finance, if properly implemented
In his keynote address, financial analyst Johnson Chukwu highlighted the transformative power of AI in the financial services industry, using consumer credit as a key example. According to Chukwu, AI-powered systems are already enabling financial institutions to assess creditworthiness based on users’ spending habits and income data.
“Today, many Nigerians can access instant loans because machines can evaluate their financial behavior,” Chukwu explained. “Telcos have vast data on who you pay, where you go, and how much money flows into your account. With this data, AI can decide if you qualify for a ₦50,000 loan, and it’s processed within minutes.”
Chukwu also stressed how AI enhances customer experience through personalization. “Imagine a million customers, each treated uniquely. AI recognizes your face, voice, fingerprint, and preferences. This ensures tailored services rather than a one-size-fits-all approach.”
Furthermore, AI is poised to drastically improve how customer complaints are resolved. “Machines equipped with large volumes of data can analyze a complaint and suggest the best resolution almost immediately,” he said.
Chukwu concluded by outlining what he termed the “Seven Cs” necessary for successful AI implementation: Capacity, Capability, Collaboration, Creativity, Cognition, Continuity, and Control.
He warned that companies resisting AI adoption risk irrelevance. “Artificial intelligence is not just a tool, it’s the future of customer interaction. Firms that ignore this shift will not only struggle to compete but may become obsolete,” Chukwu stated.
