Excess Bank Charges Recovery Services
Excess bank charges are unauthorized, inflated, or incorrectly applied fees debited by banks contrary to regulatory guidelines, contractual agreements, or approved lending terms. These may include overcharged interest, unauthorized commissions, excess COT, wrongful penal interest, illegal management fees, and unapproved facility charges in Naira and FX accounts.
Most businesses are unaware they are being overcharged. Indicators include:
- Unexplained account balance reductions
- High interest not aligning with agreed rates
- Frequent unexplained debit entries
- Charges inconsistent with regulatory guidelines of the Central Bank of Nigeria
We review and recover excess charges on Naira and FX accounts such as:
- Overstated loan interest
- Wrong application of compound interest
- Excess Commission on Turnover (COT)
- Illegal management/commitment fees
- Unauthorized penal charges
- Charges above approved rates
- Wrong foreign exchange differentials
Subject to documentation availability and applicable limitation laws, excess charges can often be reviewed and recovered for transactions dating back six years. We also cover beyond six years.
Typically, we require:
- Bank statements (preferably in Excel format)
- Offer letters and loan agreements
- Correspondence with the bank
- Facility restructuring documents (if any)
- Letter of Credit (LC)
- Letter of engagement/appointment as forensic consultant
- Letter of introduction to the bank as your forensic consultant
The duration depends on:
- Volume of transactions
- Complexity of facilities
- Bank responsiveness
Yes. We review transactions across all commercial banks regulated by the Central Bank of Nigeria and other financial institutions.
Our fees are performance-based. We typically charge an agreed percentage of successfully recovered excess charges. This ensures alignment of interest and zero financial risk to the client. We do not charge any upfront fee for our services as No recovery No fee.
Discovering excess bank charges often requires specialized forensic analysis beyond the routine scope of traditional accounting or internal auditing functions. While accountants and internal auditors focus primarily on financial reporting, compliance, and internal control reviews, the identification of excess bank charges involves detailed reconstruction of loan calculations, interest applications, and bank charge structures in line with regulatory guidelines issued by the Central Bank of Nigeria. This highly technical process is typically carried out by trained forensic banking consultants who possess the expertise, analytical tools, and regulatory knowledge required to detect irregularities, quantify excess charges, and professionally engage financial institutions for appropriate recovery or adjustment.
Absolutely. All reviews and engagements are handled with strict confidentiality and professional discretion.
Our approach is professional, evidence-based, and regulatory-compliant. In most cases, matters are resolved amicably without damaging banking relationships.
- Forensic and analytical expertise
- Regulatory knowledge
- Strong negotiation framework
- Results-driven approach
- Transparent reporting process
We:
- Prepare a detailed forensic report
- Present findings to the bank
- Engage in structured negotiation
- Secure refund, credit adjustment, or credit client bank account with the refund
- Service fee paid to the consultant.
Yes. While we primarily serve corporate organizations, individuals with loan facilities or significant transactions may also benefit from our review services.
Contact TASK Professional Services for a confidential preliminary assessment. Our team will guide you through the documentation and engagement process.