Following the resolution on a motion, under Matters of Urgent Public Importance, moved by Rep. Tajudeen Yusuf (PDP-Kogi), which was unanimously adopted by members through a voice vote. The House of Representatives on Thursday has resolved to investigate the N65 being charged customers by commercial banks for Automated Teller Machine (ATM).
The house directed its Committee on Banking and Currency to investigate the charge and other related rates paid by banks’ customers. The Nigerian banks charge N65 extra on other banks ATM different from the holders’ bank after each third transaction.
While moving the motion, Yusuf expressed concern that banks across the country had been extorting N65 from customers from every bank transaction while the Central Bank of Nigeria (CBN) failed to act.
Continuing he said that recently, banks in the UK were asked to pay customers monies collected from them in the name of bank charges. When contributing on the matter, Rep. Aminu Suleiman (APC-Kano) accused the CBN of not doing its job as a regulatory agency.
The house referred the matter to the Banking and Currency committee and was directed to report back in four weeks for further legislative action.
It should be noted that the excess charges by Banks in Nigeria is becoming unbearable, especially at this hard times.