The House of Representatives has urged the Central Bank of Nigeria (CBN) to suspend the increase in ATM transaction charges and the stoppage of free ATM withdrawals for customers of other banks.
This decision follows a motion of urgent public importance moved by Hon. Marcus Onobun from Edo State.
Hon Onobun had expressed concern that Nigerians are already struggling with economic hardships, including high inflation, fuel price hikes, electricity tariff increases, and excessive banking charges, all of which reduce disposable income.
He warned that additional ATM withdrawal charges could discourage low-income earners from using banking services, undermining the CBN’s financial inclusion agenda.
He also noted that despite recording significant profits, banks continue to impose extra charges without improving services.
The Lower Chamber also set up an ad-hoc committee to investigate the state of oil and gas pipelines in Nigeria.
The Reps committee will examine the causes and impacts of frequent vandalism and operational failures, assess existing security and maintenance measures, and evaluate the effectiveness of past and present government interventions.
It will also engage key stakeholders, including the NNPCL, NUPRC, NMDPRA, security agencies, oil companies, host communities, and civil society organizations, to recommend sustainable solutions.
This decision followed a motion of public importance by Hon. Muhammad Shehu from Kano State.
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