hopexter:
Misplaced priorities. Of all the issues in Nigeria and the recent killings of kidnapped victims, this was all the useless senate committee could could deliberate on.

immhotep:

When finance minister dodged nysc and proceeded to forge certificates.

SMH

iSufferFools:
I won't be surprise if the banks and interswitch gain up to bribe the senate committee saddled to look into this day light robbery.

hopexter:
Misplaced priorities. Of all the issues in Nigeria and the recent killings of kidnapped victims, this was all the useless senate committee could could deliberate on.

hopexter:
Misplaced priorities. Of all the issues in Nigeria and the recent killings of kidnapped victims, this was all the useless senate committee could could deliberate on.

2mercy:



The Senate has urged the Central Bank of Nigeria (CBN) to look into the suspension of the Automated Teller Machine (ATM) maintenance and withdrawal charges by banks.

This was after a motion on "illicit and excessive charges by Nigerian banks in customers accounts" was raised by Senator Gbenga Ashafa during the plenary session on Wednesday.

Deputy Senate President Ike Ekweremadu seconded the motion, saying: "The ATM charge is not the only charge we get from the bank, there are VAT charges and so on; this is unacceptable. We have the Customer Protection Agency in Nigeria, but they are not living up to expectations."

The issue generated much debate on the floor of the Senate and after much deliberations, a few resolutions were made.

The Senate directed the committees on banking insurance and other financial institutions and finance to conduct an investigation into the propriety of ATM card maintenance charges in comparison with international best practices and report back to the Senate.

It also mandated the committees on banking, insurance and other financial institutions and finance to invite the CBN Governor to appear before the body in order to explain why the official charges as approved by the CBN are skewed in favour of the banking institutions as against the ordinary customers of the banks.

The lawmakers urged CBN to suspend the ATM card maintenance charges being deducted from customers accounts, just as they called on the CBN to instruct the commercial banks to configure their machines to extend to N40,000 per withdrawal, pending the outcome of the investigation by the committees.

The Consumer Protection Council was called upon to be up and doing in taking up the plight of ordinary Nigerians by looking into the various complaints of excess and unnecessary charges by Nigerian banks.

http://saharareporters.com/2018/10/17/breaking-senate-asks-cbn-suspend-atm-card-maintenance-charges

Mtcheeeeeeeew!!! Na now day break for their (Senators) eyes abi?...

Tired evening newspaper paper claiming to b law makers!.

I am quiet sure few of them must have been victims of bank unnecessary and illegal charges...

Na now banks start to de scam us on legit format?

Bluecurtain:
Yes,,, I've been meaning to ask,, how is my bank helping me to maintain my ATM card that's resting in my wallet

And again,, how come I'm the one that pays for SMS being sent to me. How can recipients be charged for messages being sent to them . Access bank deducts money for everything, they'll send you a birthday message and still deduct money for SMS

Bankers!!! Over to you.

Modified - back in the days, when you keep your money with the banks,, it increases,, but these days, deposit 10k in your account, bank will destroy the money.
SMS charges
Card maintenance
Using another ATM
etc
Before you know it,, 10k has turned to#8,980. Rendering the money almost useless for the intended purpose.

oluwaahmed:
Unemployment looming in the banking sector

obigenius:
FTC

Koolking:
ATM card maintenance charge is one of the biggest scams by Nigerian banks.

Good move by the Senate. The rip off is too much