Reps to investigate ATM charges by banks

The House of Representatives on Thursday resolved
to investigate the N65 being charged customers by
commercial banks for Automated Transaction
Machine.
The house directed its Committee on Banking and
Currency to investigate the charge and other related
rates paid by banks’ customers.
The resolution followed a motion under Matters of
Urgent Public Importance moved by Tijani Yusuf
(PDP-Kogi), which was unanimously adopted by
members through a voice vote.
Bank customers can withdraw from ATMs other than
those of their banks freely thrice a month.
Subsequent withdrawals would attract a N65
charge.
Moving the motion, Yusuf expressed concern that
banks across the country had been extorting N65
from customers from every bank transaction while
the Central Bank of Nigeria failed to act.
He said that recently, banks in the UK were asked
to pay customers monies collected from them in the
name of bank charges.
Also contributing on the matter, Rep. Aminu
Suleiman (APC-Kano) accused the CBN of not
doing its job as a regulatory agency.
The house referred the matter to the Banking and
Currency committee and was directed to report
back in four weeks for further legislative action.
NAN