The Nigerian Senate has asked its Committees on Banking, Insurance & other Financial Institutions and Finance to invite the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, to explain why its approved official charges are tilted in favour of banks and causing harm to the financial health of the ordinary Bank Customers.
The Committees have also been instructed to investigate the propriety of ATM Card maintenance charges in comparison with the international best practices and report back to the Senate.
These resolutions were the follow-up to a motion sponsored by Gbenga Ashafa on “Illicit and Excessive Charges by Nigerian Banks on customers account with particular focus on Automated Teller Machine (ATM) Maintenance and Withdrawal Charges.”
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