News

Reps Urge Commercial Banks To Halt Excess Charges, Illegal Deduction

Published

3 years ago

July 11, 2023

Editor

The House of Representatives has urged commercial banks in the country to stop excess charges and Illegal deductions from customers.

The resolution followed the adoption of a motion by Rep. Godwin Offiono (PDP-Cross River) at the plenary in Abuja on Tuesday.

In his motion, he said some banks and financial institutions in Nigeria indulge in the unethical practice of fleecing their customers through excess charges and unauthorised deductions.

He said customers of different commercial banks were groaning over excessive charges on their
accounts, the financial institutions known as Deposit Money Banks (DMBs) had reportedly introduced different deductions.

This according to him was to increase their income, a development that is uncomfortable with customers;
“Apart from Stamp Duty, bank customers also pay Value Added Tax (VAT) charges applicable on all VATable transactions in their account.”

He said commercial banks were charging outrageous interest on loans, and overdraft at a rate that was higher than the agreed rate in the offer letter.

He said such arbitrary increase were done in the interest rate on loans and overdrafts and increase in the other fees without notifying and getting customer’s consent as stipulated in the Central Bank /Chartered Institute of Bankers of Nigeria (CIBN) guideline.

He expressed concern that such creation of charges not recognised in the Central Bank Guide to Bank charges was a common practice by Commercial Banks.

He raised concerned about the wrong application of maintenance fees, banks overcharging maintenance fees, the inclusion of transactions exempted from maintenance charge.

Others include: loan liquidation and bank-induced transactions among others.

He said affected customers attempted to lodge complaints to the Bank’s Customer Care but they were treated as beggars without result.

Adopting the motion, the House mandated the Committee on Banking and Currency when constituted to investigate the issue of excess charges and illegal deductions by commercial banks.

The House also mandated the committee on Legislative Compliance when constituted to ensure
implementation.

News

Edo NLC Crisis: Caretaker Committee Drags Rival Exco, Govt To Court

Published

4 hours ago

May 6, 2026

Editor

The division in the Edo State Council of the Nigeria Labour Congress (NLC), took a new dimension on Wednesday as Prof. Monday Monday Lewis Igbafen-led caretaker committee approached the National Industrial Court of Nigeria, Benin Judicial Division, seeking to affirm its authority and restrain a rival executive from parading itself as the council’s leadership.

Joined in the suit are the Edo State Government, the Commissioner for Labour and Productivity, and the Attorney-General and Commissioner for Justice.

In a suit marked: NICN/BEN/12/2026, and filed before the court in Benin, the claimant, Igbafen, acting for himself and on behalf of the NLC Caretaker Committee in Edo State, is challenging the continued occupation of the union’s secretariat and control of its assets by members of the Bernard Egwakhide-led factional State Executive Council.

The claimants are asking the court to declare that the caretaker committee (Igbafen-led faction), constituted on August 11, 2025, by the NLC national leadership, remains the only lawful authority to administer the affairs of the Edo State Council pending fresh elections.

They further seek a declaration that the continued occupation of the NLC secretariat located at No. 1 Teboga Road, Benin City, as well as the retention of union assets, financial records, and official instruments by the defendants, is illegal and void.

The suit also prays for an order of perpetual injunction restraining the defendants from parading themselves as officials of the NLC Edo Council or interfering with the functions of the caretaker committee.

In addition, the claimants are seeking a mandatory order compelling the defendants to immediately hand over the secretariat, vehicles, financial documents, cheque books, and all other properties belonging to the union.

The caretaker committee further urged the court to restrain the state government and its officials from interfering in the internal affairs of the union, alleging undue support for the dissolved executive.

The claimants further demand N50 million as general and exemplary damages against the defendants for alleged unlawful usurpation of office and acts prejudicial to the administration of the council.

According to court documents made available to our correspondent, the crisis followed the dissolution of the Edo State Council by the NLC National Executive Council on February 27, 2025, over allegations of misconduct, anti-union activities, and constitutional violations.

However, the matter has yet to be assigned a hearing date.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

9 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

10 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.