Banks Are Stealing Our Money, Over 400,000 Nigerians Complain

Banks Are Stealing Our Money, Over 400,000 Nigerians Complain
March 02 22:44 2016 Print This Article

The President of the Consumer Advocacy Foundation of Nigeria (CAFON), Mrs. Sola Salako has said that over 400,000 Nigerians are complaining that banks in the country have been stealing their money in style, through arbitrary charges.

Mrs. Salako who spoke in an interview with the News Agency of Nigeria (NAN) in Lagos said: “We now pay for using other banks’ ATMs, Annual Debit Card maintenance charges and other charges.

“It (bank charge) has become more alarming and it is because the customers are complaining to us as a Non-Governmental Organization (NGO) that looks at the right things that we thought it time to urge Nigerians to defend their rights.”

Mrs. Salako alleged that the Bankers’ Committee had been fixing charges without recourse to bank users, adding that the committee determined “what is profitable to the banks at the detriment of bank users.”

She also alleged that the banks have further extended their proposal to the Central Bank of Nigeria (CBN) for acceptance even as she said that the same apex bank which abolished ATM charges as well as Commission on Turnover (COT) charges on current account later brought back all the charges.

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The CAFON President said that the rate at which bank users are complaining about excessive charges is becoming alarming, saying: “the protest has become expedient due to constant complain by banks’ customers over excessive charges.

“Nigerians are known to be very tolerant. They will not complain about anything until it gets to an unbearable level.

“When it gets to a crescendo and you go online, you see people posting their complaints over excessive bank charges

“It is not every time you get angry to the point of becoming destructive.”

-Greenbarge Reporters

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