Reps to probe multiple bank charges

The House of Representatives said it will investigate bank charges.

It also urged banks to halt the planned introduction of N100 monthly maintenance fee on Automated Teller Machine (ATM) cards.

To ensure compliance with the resolution, the House mandated its Committee on Banking and Currency to conduct a probe on the issues and report back to it.

The lawmakers also urged the Governor of the Central Bank of Nigeria (CBN) Sanusi Lamido Sanusi and other relevant authorities to look into the issue and act appropriately.

The resolution of the House was sequel to the adoption of the prayers of a motion brought before the House by Alliu Babatunde Kazeem.

He said the Bankers’ Committee in November, 2012, scrapped the N100 interbank charges on the use of ATM cards.

Kazeem, while presenting his argument, revealed that from March 2013, First Bank of Nigeria Limited was about to commence monthly deductions of maintenance fee on their cards.

The lawmaker said if an organisation such as the Bankers’ Committee had abolished the interbank transaction charges, then such charges were not justified as they were being foisted on customers illegally.

He said the CBN Governor had outlawed the N100 on withdrawals on ATM since December 17, 2012.

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