Reps probe ‘extortion’ through N65 ATM charges

House of Representatives has begun moves to investigate the alleged extortion of customers through the N65 ATM charges by commercial banks in the country.

It, has therefore, directed its committee on Banking and Currency, to investigate same and other such related charges by the commercial banks.

The resolution followed a motion under matters of urgent public importance moved by Hon. Tijani Yusuf, (PDP-Kogi), which was unanimously adopted by members through a voice votes by members.

According to him, commercial banks across the country had been extorting customers with N65 deducted from every bank transaction, while the Central Bank of Nigeria failed to act.

He recalled that recently, banks in the United Kingdom (UK) were asked to pay customers monies considered to have been illegally deducted from customers’ accounts as charges.

Also, in his contribution, contribution, Hon. Aminu Suleiman accused the Central Bank of Nigeria of not discharging its responsibilities as regulator of the banking sector.

The motion has been referred to the concerned committee; Banking and Currency for further legislative action, and to report its findings back within four weeks.

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