House of Representatives Accuses Commercial Banks of Illegally Deducting Charges From Customers’ Accounts

The House of Representatives on Tuesday accused commercial banks of engaging in illegal practices by deducting unexplained charges from the accounts of civil servants, public servants, and other customers without proper remittance.

The allegation was made by the Chairman of the House Ad-hoc Committee investigating tax deductions from civil and public servants’ salaries and bank charges on customer accounts, Rep. Kelechi Nwogu, at the opening of the panel’s investigation in Abuja.

Nwogu said the committee’s mandate is to ensure that all deductions or charges made by banks on customers’ accounts are lawful, accurately assessed, and properly applied.

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

He emphasized that the House panel will leave no stone unturned in uncovering why banks have engaged in such questionable deductions.

Nwogu also stated that the committee is committed to protecting Nigerians from unlawful charges. To this end, invitations have been extended to the Ministry of Finance, and the panel will work in collaboration with the Office of the Accountant General of the Federation, the EFCC, and commercial banks operating in Nigeria.