Reps Summon Nigerian Bank CEOs Over ‘Illegal’ Deductions From Customers’ Accounts

• Bank chief executives have been ordered to appear in person before a House committee probing alleged unlawful charges, with lawmakers warning that no proxies will be accepted.

Chief executive officers of commercial banks have been directed to appear in person before an investigative panel of the House of Representatives over alleged illegal and unexplained deductions from customers’ accounts.

The summons was issued on Tuesday in Abuja by the House Ad-hoc Committee investigating the deduction of taxes from civil and public servants’ earnings and various bank charges.

Speaking during the session, Committee Chairman, Rep. Kelechi Nwogu, accused banks of engaging in systematic and unlawful deductions, including charges that are neither transparent nor remitted to the appropriate authorities.

“Commercial banks are perpetrating illegality by deducting inexplicable charges from civil servants, public servants and other customers’ bank accounts without remittances,” Nwogu said.

He noted that customers are routinely debited for SMS alerts, account maintenance and transfers, raising concerns over legality, transparency and the use of such funds.

Nwogu stressed that the investigation would ensure that all deductions are properly authorised, correctly computed and appropriately utilised.

He disclosed that invitations had been extended to the Ministry of Finance and that the committee would work with the Office of the Accountant-General of the Federation, the EFCC and commercial banks to conduct a thorough probe.

The lawmaker warned that only bank CEOs must appear before the panel, insisting that no representatives would be accepted.

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“You cannot appear here without an identity. We are not here on our own. We are here on the mandate of the people that elected us into parliament,” he said.

The committee issued a four-day ultimatum for banks to submit the required documents, saying that any institution that fails to comply by Monday will face sanctions.

Nwogu said the House panel is determined to leave no stone unturned in uncovering the reasons behind what it described as spurious and unjustified deductions from customers’ accounts.