atm

The House of Representatives has announced plan to probe the N65 being deducted from customers’ accounts by commercial banks for Automated Transaction Machine (ATM).

The lower house has directed its Committee on Banking and Currency to investigate the charges and other related rates paid by banks’ customers in the country and report back to the house in four weeks. The resolution was adopted following a motion moved by Hon. Tijani Yusuf (PDP-Kogi).

According to a report by the News Agency of Nigeria (NAN),  Nigerian banks charge N65 extra on other banks ATM different from the holders’ bank after each third transaction.

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 (CBN) 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.

Hon.  Aminu Suleiman (APC-Kano) in his contribution to the motion accused the CBN for not doing enough in regulating the banks in the country.