The Socio-Economic Rights and Accountability Project, SERAP, has filed a lawsuit against the Central Bank of Nigeria, CBN, over its recent decision to increase Automated Teller Machine, ATM, transaction fees, arguing that the fee hike is “unlawful, unfair, unreasonable, and unjust” and seeking a court order to stop its implementation.
In the suit filed at the Federal High Court in Lagos, SERAP is asking the court to determine whether the CBN’s decision is in violation of the Federal Competition and Consumer Protection Act 2018, and seeking a declaration that the fee hike is contrary to sections of the Act which mandate the protection of consumer rights and prohibit unfair business practices.
Be the first to write a comment.