Tag: Bank Charges
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Banks’ profits, charges and customers’ complaints – By Etim Etim
Grumbling about banks’ profit is a favourite Nigerian pastime that gets louder and louder in the first quarter of the year when their financial performance for the previous year is announced. But lately, the grumblers have shifted attention to bank charges, with some arguing that the lenders are too profitable and should waive
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Reps investigate excess bank charges on FG’s accounts
Speaker of the House of Representatives Femi Gbajabiamila The House of Representatives, on Wednesday, mandated its Committee on Banking and Currency to investigate the alleged excessive charges on bank transactions imposed by Deposit Money Banks (DMBs), also known as commercial banks, in Nigeria. This directive was based on the motion moved by a member of…
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Bank Charges and the Rule of Law, By Sonnie Ekwowusi
When last did you check the bank charges slammed on you by your bank to ascertain whether they are appropriate charges or not?
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Reps to investigate alleged excess charges by banks
The House of Representatives has mandated its committee on banking to investigate and determine the extent of alleged excess charges on public institutions and individuals accounts held in various banks. This was sequel to a unanimous adoption of a motion by Rep. Yusuf Gagdi (APC-Plateau) at the plenary on Wednesday. The committee would also liaise…
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TNG Exclusive: Lawmakers angry over excessive ‘N200k’ bank charges on monthly salaries
By Emmanuel Ovuakporie … point an accusing finger at House leadership … insist bank rip-off lawmakers of at least N72m monthly Some members of the House of Representatives are angry with the House leadership over alleged excessive bank charges of N200,000 monthly from their monthly emoluments due to Federal Account Allocation Committee, FAAC’s delay in…
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Oppressive Bank Charges: Mr. President Please Stop This Daylight Robbery, By Henry Boyo
“Regrettably, banks seem to perceive customer deposits as a burden which must be taxed, rather than the actual base on which their total lending and ultimate profitability is primarily predicated. For example, with the subsisting mandatory Cash Reserve Ratio of 22.5 per cent for banks, a customer deposit of N1000 will create at least additional…