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House of reps query banks over alleged illegal deductions
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Lawmakers have accused major Nigerian banks of making unexplained deductions from customers’ accounts.
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A four-day deadline was issued for full compliance in an ongoing investigation.
The House of Representatives has accused several commercial banks, including GTBank, Zenith Bank and Access Bank, of engaging in illegal and unexplained deductions from the accounts of civil servants, public workers and other customers.
Chairman of the House Ad Hoc Committee investigating tax deductions and bank charges, Kelechi Nwogu, made the allegation during a panel sitting in Abuja on Tuesday.
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He said the committee’s mandate is to ensure that all deductions are correctly applied, legally charged and properly remitted, stressing that several banks have been carrying out unlawful withdrawals without accountability.
“Commercial banks are perpetrating illegality by deducting inexplicable charges from civil servants, public servants and other customers’ bank accounts without remittances,” he said.
The committee rejected the appearance of representatives sent by the CEOs of the affected banks, insisting that the chief executives must appear in person.
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“We are here on the mandate of the people who elected us. You must submit all requested documents on or before Monday. We will go through them and put you on oath,” Mr. Nwogu told the banks.
The panel also disclosed that it has invited the Federal Ministry of Finance, and will work with the Office of the Accountant General of the Federation, the EFCC, and all commercial banks operating in Nigeria to unravel the deductions.
A four-day ultimatum was issued for all banks to submit the required documents, with a warning that any bank that fails to comply by Monday will be sanctioned.
Mr. Nwogu added that the House is determined to expose why banks have continued making “spurious deductions” from customers’ accounts.
