Maritime Nigeria

Main Menu

  • Home
  • News
  • Interviews
  • Maritime Info
  • Photo Gallery
  • Fact
  • Profiles

logo

Header Banner

Maritime Nigeria

  • Home
  • News
    • NPA Under Dantsoho What Does The Charts Indicate?

      Jun 17, 2025
      0
    • IMO ELECTION: Nigeria Assures On Quality Representation

      Jun 17, 2025
      0
    • Maritime Development: Nigeria, Korea Deepen Collaboration

      Jun 16, 2025
      0
    • Shipping and Plastic Pollution-The Dangers To Humanity

      Jun 16, 2025
      0
    • Ocean Conference: Nigeria Canvases Increased Funding For Developing Nations

      Jun 12, 2025
      0
    • NIMASA: Beyond BPSR-Proactivism, Broader Vision Crucial

      Jun 11, 2025
      0
    • Blue Economy: Oyetola Engage World Leaders In France

      Jun 10, 2025
      0
    • War Against Illicit Drugs: NSA Commends Customs, NAFDAC, NDLEA

      Jun 5, 2025
      0
    • FG Commits To Enhance NSC Regulatory Capacity

      May 28, 2025
      0
  • Interviews
    • Nigeria Takes Leadership Of MOWCA

      Nov 18, 2021
      0
    • APM Participates in UK Trade Expo

      Oct 31, 2021
      0
    • Reps Seek Admission at MAN

      Dec 7, 2020
      0
    • NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

      Oct 5, 2020
      0
    • FG Sacks Aboloma As NAIC Gets New EDs

      Aug 28, 2020
      0
    • Britain Celebrate Nigerian In Covid Efforts

      Jul 26, 2020
      0
    • Zuckerberg Backs Trump Against Twitter

      May 28, 2020
      0
    • NAFDAC DG Sheds Light On Chloroquine, Herbals, Masks and Covid19

      May 12, 2020
      0
    • Reps Threaten MDAs

      Feb 24, 2020
      0
  • Maritime Info
    • 2023 POP: Minister Task Cadets On Blue Economy

      Dec 15, 2023
      0
    • Rector, Trainees Excited, Laud FG On Modern Academy

      Jan 26, 2023
      0
    • Buhari Redeploys Minister As NPA, NIMASA, MAN, Others Get New Boards

      Apr 7, 2022
      0
    • World Bank Endorse Nigerian Ports, Partners Navy On Capacity Building

      Mar 19, 2022
      0
    • NIMASA Commend Nigerian Navy, Reassures On Floating Dock

      Feb 9, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • shipping

      Singapore Strait Dangerous To Shipping-ReCAAP

      Jan 24, 2022
      0
    • Lekki Deep Sea Port Will Increase Port Efficiency-Amaechi

      Jan 24, 2022
      0
    • Fair Competition: NSC Partners FCCPC For Effectiveness

      Jan 21, 2022
      0
  • Photo Gallery
    • SERAP Calls for Probe of Entire Privatization Processes 1999-2011

      Dec 4, 2017
      0
    • IMO Election: South Africa, Kenya, Liberia, Morroco and Egypt Make Category C

      Dec 2, 2017
      0
    • Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

      Nov 2, 2016
      0
    • Captured Seafarers Languish In Captivity without Ransom

      Nov 1, 2016
      0
    • Niger Delta: Militants Ask FG to Include Former Agitators in Negotiations

      Nov 1, 2016
      0
    • Self-Audit: NIMASA Set to Review 3% Freight Charge

      Nov 1, 2016
      0
    • Recession: Japanese Shipping Companies to Merge

      Oct 31, 2016
      0
    • NSC Partners ICS on Capacity Building

      Oct 31, 2016
      0
    • AGAIN, APAPA CUSTOMS SURPASS MONTHLY TARGET WITH N33B COLLECTION

      Oct 5, 2016
      0
  • Fact
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • “VIN Is A Trade Tool, Not Punitive”-Customs

      Mar 2, 2022
      0
    • Blackmailers, False Publishers and Their Agents: Court Clears Rector

      Feb 18, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • "APM Terminals Is Beyond Moving Boxes Around"-Laursen

      Jan 24, 2022
      0
    • MWUN: Welfare, Safety Our Priority-Adeyanju

      Dec 27, 2021
      0
    • Reversing the Trend: Koko Breaks Record at NPA

      Dec 24, 2021
      0
    • Minister Demands More From MAN At Passing Out Parade

      Dec 20, 2021
      0
    • MARITIME NIGERIA TASK NIMASA ON MARITIME DEVELOPMENT

      Dec 15, 2021
      0
  • Profiles
    • CMA CGM Brings AI Onboard

      Jun 5, 2018
      0
    • Customs Notify 577 Officers of Retirement by Eguono Odjegba

      Jan 12, 2018
      0
    • Over 100 Persons Feared Dead in Mediterranean Ship Wreck

      Nov 3, 2016
      0
    • Ballast Water: Panama Signs Up

      Oct 24, 2016
      0
    • Ist Half Report: Customs generate N385.7bn revenue

      Aug 15, 2016
      0
    • Minister/MD Speeches at the Launch of NPA's CCCIS

      Jul 23, 2016
      0
    • Face off Imminent as Dakuku Warn IOCs to Sit Up or Stay ...

      Jul 22, 2016
      0
    • Hadiza, Welcome to NPA

      Jul 16, 2016
      0
    • Habib Abdullahi Sacked Again from NPA

      Jul 12, 2016
      0
  • NPA Under Dantsoho What Does The Charts Indicate?

  • IMO ELECTION: Nigeria Assures On Quality Representation

  • Maritime Development: Nigeria, Korea Deepen Collaboration

  • Shipping and Plastic Pollution-The Dangers To Humanity

  • Ocean Conference: Nigeria Canvases Increased Funding For Developing Nations

News
Home›News›Bank Charges: Senate Bare Fangs

Bank Charges: Senate Bare Fangs

By Editor
Jan 31, 2018
1231
0
Share:

“The Senate is aware that the CBN reported that it had recovered about N2.6bn from banks as excess charges imposed on their customers in 2015 through a statement issued by the Director, Corporate Communications Department, Muazu Ibrahim. In 2015 alone, the apex bank investigated about 6,000 of such cases;

 

The Senate on Tuesday resolved to conduct an investigation into the spate of illegal charges and deductions from accounts of their customers by Deposit Money Banks.

The resolution followed the adoption of a motion moved by Senator Magnus Abe and 22 others, entitled, ‘Urgent Need to Investigate, Regularise and Amend Conflicting, Vague and Unjust Remedies, which the Central Bank of Nigeria Offers to Victims of Excessive and Arbitrary Bank Charges and Illegal Deductions by Commercial Banks.’

One of the prayers of the motion, which was passed unanimously by the lawmakers, was to urge the government to “pro-actively protect customers’ rights, eradicate short payment of interests and end the culture of excess and arbitrary bank charges; these steps if taken, will reposition the banks to avert future re-occurrence.”

The lawmakers also revolved to direct the Senate Committee on Banking, Insurance and Other Financial Institutions to conduct a public hearing and invite the Governor of the Central Bank of Nigeria, Godwin Emefiele, his officials and other stakeholders, such as forensic auditors, managing directors of commercial banks and the Bankers’ Committee.

The public hearing, they resolved, would be aimed at “harmonising and amending these laws, rules and guidelines that do not adequately protect the customers and give them substantial remedy when overcharged.”

Moving the motion, Abe said, “The Senate notes that over the years, commercial banks in Nigeria have indulged in sharp practices of overcharging customers/depositors arbitrarily and excessively, contrary to tariff stipulations and credit and monetary guidelines issued from time to time by the Central Bank of Nigeria.

“The Senate is aware that the CBN reported that it had recovered about N2.6bn from banks as excess charges imposed on their customers in 2015 through a statement issued by the Director, Corporate Communications Department, Muazu Ibrahim. In 2015 alone, the apex bank investigated about 6,000 of such cases;

“The Senate is concerned that several of the Central Bank of Nigeria’s applicable rules that should remedy such hardships and discourage sharp practices by the commercial banks are conflicting, vague and unjust, thereby causing the commercial banks to frequently short-change their customers.”

The lawmaker decried that requests by bank customers to the CBN for clarification of the rules were largely ignored.

“The Senate is worried that if this trend is allowed to continue unabated, Nigerians will be worse of for it, while the commercial banks will continue to declare huge profits at the expense of innocent Nigerians from regular depositors to business firms,” Abe added.

 Seconding the motion, Senator Emmanuel Bwacha described as fearful what he called monumental fraud in the banking sector.

“In an era that we claim to be fighting corruption and we ignore this sector, I think we are just doing eye service to the fight against corruption. This is one critical area that if we focus on, it will save a lot of Nigerians from the pains they are going through,” he said.

The President of the Senate, Bukola Saraki, in his remarks, said the lawmakers would defend Nigerians.

He stated, “Particularly at this difficult time, every naira is important and we must be seen to be defending the interests of Nigerians who don’t have the voice to defend themselves.

“Again, the issue here is to get to the bottom of what the laws and guidelines are, and to be sure that they (banks) are in line with the laws and have the powers to make such pronouncements (on charges).”

 

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)

Related

Previous Article

Crisis Would Lead to Hunger-UN

Next Article

IMO Battles Global Piracy

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • News

    We Shall Sanction Defaulters-NCAA

    Mar 10, 2018
    By Editor
  • FactFeaturedNews

    Jamoh: The New Agenda In NIMASA

    Mar 18, 2020
    By Editor
  • FeaturedNews

    Hadiza Calls For Greater Port Efficiency

    Aug 19, 2019
    By Editor
  • FactFeaturedMaritime InfoNewsPhoto Gallery

    CUSTOMS EMBRACE CCCIS TO CHECK MID-STREAM DISCHARGE

    Aug 11, 2016
    By Editor
  • News

    Ministerial Tour: Nigeria On Course-Maritime Chiefs Assure Global Community

    Jun 23, 2022
    By Editor
  • Customs OperationsNews

    CUSTOMS: Seme Command Honour Gallant Officers

    Jul 12, 2023
    By Editor

Leave a Reply Cancel reply

  • News

    Maritime Development: NPA Floating Dock Rots, NIMASA’s Version Awaited

  • Customs Operations

    Apapa Command: Beyond The Figure So much Unsaid-Stakeholders

  • News

    Nigerian Government Eases Covid Protocols

Looking For Something?

Read From

  • Agriculture
  • Customs Operations
  • Fact
  • Featured
  • Interviews
  • Maritime Info
  • News
  • One Question
  • Photo Gallery
  • Profiles
  • sports

Just In

News

NPA Under Dantsoho What Does The Charts Indicate?

Apart from the commencement of actual works on the $1billion ports reconstruction, the Managing Director of the Nigeria Ports Authority, Dr. Abubakar Dantsoho (with unalloyed support of the performance-driven Minister ...
  • IMO ELECTION: Nigeria Assures On Quality Representation

    By Editor
    Jun 17, 2025
  • Maritime Development: Nigeria, Korea Deepen Collaboration

    By Editor
    Jun 16, 2025
  • Shipping and Plastic Pollution-The Dangers To Humanity

    By Editor
    Jun 16, 2025
  • Ocean Conference: Nigeria Canvases Increased Funding For Developing Nations

    By Editor
    Jun 12, 2025
  • Home
  • About Us
  • Contact Us
© 2013 Maritime Nigeria | All Rights Reserved