Customer complaints as untapped source of risk intelligence

Why do some organisations take customer complaints personally, sometimes treating them as emotional attacks rather than formal requests for the remediation of unmet service or product expectations? A complaint may require a refund, repair, replacement or apology, but it can also provide something more valuable to an organisation – information about where its products, services, processes or controls are failing.

For financial institutions, this makes customer complaints more than a service problem. They are a source of risk intelligence. When systematically captured, analysed and connected to an institution’s risk-management framework, complaints can reveal emerging operational, conduct, technology, fraud and reputational risks before they become larger financial or regulatory problems.

Nigeria’s complaints data shows just how much information is contained in these cases. According to the Central Bank of Nigeria’s 2025 Annual Report, the Bank received 23,129 complaints from consumers of financial services in 2025, 10.53 per cent more than the 20,925 recorded in 2024. It resolved 18,824 complaints during the year. The value of local currency claims rose from N17.13 billion in 2024 to N40.61 billion in 2025, while foreign currency claims increased from $1.06 million to $344.2 million. The CBN ordered refunds of N19.12 billion and $329.3 million, while 21 penalties totalling N430 million were imposed for complaints management and other consumer protection infractions.

The data shows the potential value of complaints as an…