The South-East Amalgamated Markets Traders Association has decried what it described as “multiple and indiscriminate charges and deductions on customers” by commercial banks.
It said, “Part of the major responsibilities of the commercial banks, we know, is to accept money deposits from customers and keep safe custody of the same, and perform such other transactions for and as directed by the customer through various bank instruments. According to the association, the cashless economy policy of the CBN has been of immense benefits to its members, especially as it curtailed to the barest minimum armed robbery attacks on them.
“In addition, charges and deductions are also made for SMS, which most of the time were not received. Finally, at intervals, charges and deductions will be made on the same account as service charge.”
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