ABSURD BANK CHARGES

I read a piece from one DOCTOR OLUFUNMILAYO that Nigerian banks are feeding fat on their customers through some dubious bank charges. Before I tell you what the person said, let me quickly say this:
I operate a current account with a bank that claims the foremost in age. I remembered leaving more than N10k in that account because I hardly use the account; it's a personal not a business account.
I used to receive all kinds of messages from the bank about birthdays, Christmas, Easter, Sallah, Father's/Mothers' day, Independence, Democracy, etc greetings.
One day I received a call from one of the agents of the bank asking me to make deposits to my account. I quickly ran to check my balance only to see that my account balance is in minus.
The meaning is that, those useless messages gulped my hard earned money. I also came across a bank where every deposit you make in your account is being charged. It's now a crime to go to bank!
A new fraud is the POS operation. Banks liaise with individual operators to rob people. I went to a place where I needed cash, it was N400 per every N1000. I did transfer using my phone, and collected the cash from them. Bank charged me and they did too.
If you are using POS in your business, every money you withdraw from a customer is charged by the bank. My people, what is happening?

Now back to the former story. Doctor Olufunmilayo WROTE : 'I have lived in UK a few years now and NEVER has my bank ever charged me one penny for bank transfer. NEVER. NOT ONCE.

I’m sorry. But that 52 naira 50kobo that Nigerian banks deduct per transaction, what exactly is it for?

Why is no one speaking out against this blatant fraud?

Another is the fraudulent “Card Maintenance Fees” by Nigerian banks. Please how are you maintaining a card that is in my wallet?

I have about 3-4 UK Bank Cards. Both credit and debit cards and l have NEVER paid any such thing as a “Card Maintenance Fee”.
NEVER EVER.

The Nigerian Banking Sector is an unfortunately over-bloated industry that thrives on systemically entrenched policies that terribly defrauds Nigerians and lives on cheating the average citizen of the hard earned money that is entrusted in their care to help save and invest.

You want to send money to someone from your Nigerian bank account and you first have to plan an extra 52 naira 50kobo.

Money that is electronically sent from one Nigerian bank account to another Nigerian bank account

What exactly is the charges for?
Why is this fraud tolerated?

Someone said the charges go to NIPOST. I want to believe it is mere trolling as it makes absolutely no sense.

Please, How is Nipost involved in an ELECTRONIC money transfer?
Did I put the money in an envelope and post it? Or what?

We deserve better.
This is systemic cruelty.

When I applied for ATM Cards in UK (both debit and credit), I was NEVER charged a penny.
The card is given free.
And “maintenance”, if there’s any such thing, is done free.

IF we never get the chance to see how things happen in other places, we won’t know we are being cheated.

When I applied for an ATM Card in Nigeria, I was charged 1,000 naira to have one.
And I’m being charged some extra regularly in the pretence of an imaginary “Card Maintenance Fees”.

This is systemic corruption and a fundamental banking fraud aimed at impoverishing Nigerians.

Let’s do a little maths, dear friends.

According to NIBSS, as at December 2017, there was almost 65,000 daily Electronic Fund Transfers in 2017.

At 52.50 naira per transaction, that’s over 3 million naira a day.
And about 1 billion naira a year.

Should this fraud continue?'

bank called u to deposit? lol, but how come u dnt receive alert whenever ur money is deducted

Jafar1:
bank called u to deposit? lol, but how come u dnt receive alert whenever ur money is deducted

That one tire me oooh!