Reps lament charges on accounts, probe banks

Reps Bank Charges

Reps Bank Charges

27.2.2020

Reps lament charges on accounts, probe banks

Members of the House of Representatives at plenary. Photo: Olatunji Obasa. Leke Baiyewu, Abuja The House of Representatives has resolved to investigate the illegal and excessive charges imposed on account holders by Deposit Money Banks. The House, at the plenary on Wednesday, decried the deductions by commercial banks from its accounts. It therefore resolved that the Committee on Banking should liaise with “professional financial consultants to investigate and determine the extent of excess charges on the House of Representatives and other public institutions and individuals’ accounts held in various banks to determine the extent of excess charges, if any, in the last eight years.” The committee was mandated to report back to the House with recommendations within four weeks for further legislative actions. These were the resolutions that followed the unanimous adoption of the motion moved by Mr Yusuf Gagdi, titled ‘Need to Investigate Excess and Illegal Charges on the Accounts of Public Institutions and Persons.’ Moving the motion at the plenary on Wednesday, Gagdi said, “The House is saddened that the National Assembly, specifically the House of Representatives and other government institutions and agencies saddled with the responsibility of regulating the industry and protecting the interests of the general public, being customers of these banks, are also victims of these excess and illegal charges by their bankers. “The House is worried that while we may choose to colour or dress the language used to qualify the action of these banks by merely referring to it as excess charges, the reality remains that it is an outright stealing of customers’ deposits by banks and every hand must be on the deck to seek redress in one way or the other. “The House is certain that the House of Representatives, being a public institution and one of the three arms of government accountable for the use of tax payers’ money, prudence demands that the House commences an investigation of the activities of its accounts held in various banks to determine the extent of excess and illegal charges, if any, by its bankers with a view to recovering same in the interest of the House.” Gagdi noted that banks when properly managed and run in accordance with banking ethics open up the economy and galvanise the critical factors of production and wealth creation. He also noted that this makes the banking sector very pivotal to economic growth and national development. READ ALSO: Court restrains German firm from doing business in Nigeria He pointed out that as pivotal as the banking industry was to economic development, coupled with its tremendous growth in Nigeria over the years, while supporting the Federal Government policy of ease of doing business, the experiences of individuals, public institutions and corporate customers of banks have been that of mixed feelings. The lawmaker stated that excess and illegal debits on accounts held by customers in the name of bank charges “have been very disturbing as various charges ranging from Automated Teller Machine charges, account maintenance fee, card maintenance charges, SMS notification charges, token maintenance fees to stamp duty fees, etc., have been sources of worries to customers across the country.” According to the lawmaker, the banking industry is supposed to be a catalyst for economic growth and wealth creation. He added lack of transparency in the industry had made investment by local and foreign investors very unattractive due to “the illegal dealings and meddling with depositors’ accounts by Nigerian banks.” Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. Contact: Read more: The Punch Newspapers

Imagine ki***ng all them same time, Nigeria would have been good.... Bunch of animals Let them start from the fat wages they take home monthly. They have to remove the log in their own eyes before thinking of taking the peck off the others eyes The Only Time Reps actually take Action is when the are Directly affected..

E don dey touch you pple bah? Stay there. Don't probe. If it was the ordinary average Nigerian now, you'll do nothing. Charges everywhere, no service, no value delivery, ish abeg!😏 UBA is worse at this Just yesterday 1,100 was withdrwan from my acc, they said its for a new card, 1, i dint apply for a new card 2, my current card still in use and functions well till 2021,

It's long overdue. These banks deduct your money just anyhow with impunity. Yeah, there you have it.... Nigerians have been complain since forever, no intervention.... Everyone should just hold themselves

Reps probe NIMASA over failure over audited accounts – Daily TrustThe House of Representatives yesterday placed the Nigerian Maritime Administration and Safety Agency on “Full Status Enquiry” for its failure to submit its audited accounts for 2015, 2016, 2017 and 2018 to the Auditor-General of the Federation. The Oluwole Oke-led House Committee on Public Accounts took the decision at the continued hearing of the “Deliberate …

SERAP condemns Reps bill seeking immunity for Nigerian lawmakers - Daily Post NigeriaSocio-Economic Rights and Accountability Project (SERAP) has condemned the reported passage of a bill seeking to give leaders of federal and state SERAP is waking up from their slumber Fix the date, venue and time for everyone to come out and march in protest against this evil move before it's too late.

Reps fumes over rising Boko Haram attacks, insists Service Chiefs must go – Daily TrustMembers of the House of Representatives on Tuesday said they are angered by the incessant Boko Haram attacks in the country, insisting that the Service Chiefs must resign. I support this. Shameless fools, but can't insist that equipment should be provided to troops to execute the war. At the time when troops dont have equipment nassnigeria are busy budgeting over 5 billion for vehicles. Nigerians should know their true enemies wasting their resources. HouseNGR NGRPresident DefenceInfoNG HQNigerianArmy NigerianNavy NigAirForce nassnigeria

Footballer’s killing: We won’t take this anymore, Reps vowI will screenshot this. God bless u sir... we wait till it materialized This government have been vowing from day one and we are yet to see the result. Do something and stop your vows because it's not helping Nigerians.

Reps support bill to confer immunity on presiding officersReps support bill to confer immunity on presiding officers TuesdayMotivation TuesdayThoughts ReadThis TopStories Rubbish in the highest order...we are hoping the immunity for the executive will be removed from the constitution they are thinking of another nonsense.. who immunity help? femigbaja HouseNGR Who supports illegality? This is nothing but evil agenda & it should be condemned by all.

Reps support bill to confer immunity on presiding officersOri yin ti daru. ( u pples head av scattered) That’s the only thing they know how to do best,take selfish decisions When you know you have clean hands all the time, you won't push for something like this. At least femigbaja isn't in support of this until the next tenure of Reps, and doesn't want it. But it's a crying shame though



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