Senate probes Nigerian banks over illicit, excessive charges

CBN condemns airlines, shipping firms for violating export procedures

The Nigerian Senate has directed its Committee on Banking, Insurance and Other Financial Institutions to investigate allegations of illicit and excessive charges by deposit money banks in the country. The Senators also urged the Central Bank of Nigeria (CBN) to look into complaints of Nigerians in this regard, and possibly review downward all bank charges on account holders. The resolutions followed the consideration of a motion sponsored by Senator Patrick Abba Moro, who noted several complaints from Nigerians over illicit and excessive charges by Nigerian banks on their customer accounts.…

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