Senate probes arbitrary bank charges
The senate's resolution was sequel to a motion moved by Senator Olugbenga Ashafa representing Lagos East.
Sen. Ashafa further alleged that most banks have deliberately manipulated their ATMs not to dispense more than N10,000 per withdrawal in order to attract more bank charges from customers who are forced to carry out more transactions due to this.
Contributing to the debate, Lagos West Senator, Adeola Solomon also frowned at the culture of excess and arbitrary bank charges. He urged the Senate to urgently wade in the big stick on Nigerian banks.
Other lawmakers who contributed to the debate faulted the excessive bank charges by the Nigerian banks
The Senate President Bukola Saraki, who commended the mover of the motion, added that the motion is very crucial.
The Senate also enjoined the Consumer Protection Council (CPC) to look into the various complaints of excessive and unnecessary charges by banks in the country.
Reports by Godfrey Obemeata