House of Reps accuses commercial banks of illegal charges, deductions

The House of Representatives has raised concerns over what it describes as unlawful deductions by commercial banks from customers’ accounts without proper remittances.

Speaking during an investigative panel in Abuja, Rep. Kelechi Nwogu, Chairman of the House Ad-hoc Committee probing bank charges and tax deductions on civil and public servants’ earnings, accused banks of perpetrating illegality.

Nwogu reiterated the panel’s mandate to ensure that all deductions or charges by banks on accounts of customers must be deducted rightly, fined rightly and used rightly.

“Commercial banks are perpetrating illegality by deducting inexplicable charges from civil servants, public servants and other customers’ bank accounts without remittances,” he said.

The Ad-hoc Committee chairman, who affirmed their commitment to protecting Nigerians from illegal charges, said the House Committee had extended an invitation to the Ministry of Finance.

He also said that they would partner with the Office of the Accountant General of the Federation and the EFCC and commercial banks operating in Nigeria on the investigation.

The House Committee Chairman, who rejected representation of the CEOs of GT Bank, Zenith Bank, Access Bank and others, insisted that the CEOs must appear before the panel unfailingly.

He said, “You cannot appear here without an identity. We are not here on our own. We are here on the mandate of the people that elected us into parliament.

“We have resolved to meet next week Wednesday. You must submit all requested documents on or before Monday.

“We will go through all the documents, and we will put you on oath.”