Tag: Oppressive Bank Charges
-
OPPRESSIVE BANK CHARGES: STAMP DUTY ‘sef dey inside’, By Henry Boyo
By Henry Boyo There is increasing public concern on the forced burden of the serial rape of tens of millions of bank customers’ accounts, with a multiplicity of charges which dove-tailed the CBN’s facilitation of the Cashless Policy and the related electronic settlement of transactions. Although E-banking may have triggered a higher velocity of cash…
-
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…
-
Oppressive Bank Charges: When Silence Is Not Golden!, By Henry Boyo
BY HENRY BOYO The role of money, when properly managed, will significantly, galvanize the critical factors of production and wealth creation in every nation; in this event, the provision of banking services, is critically necessary to appropriately, manage the flow of money, between all parties to stabilize income values and sustain growth in a modern…