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Senate summons CBN chief Emefiele over bank charges

Senate summons CBN chief Emefiele over bank charges

- Senate has summoned the governor of Central Bank of Nigeria (CBN), Godwin Emefiele to appear before it

- The upper legislative chamber would question Emefiele over alleged illegal charges being deducted from customers’ accounts by commercial banks.

- He is expected to appear before the committee on Banking along with other stakeholders including Managing Directors of commercial banks

The Senate on Tuesday, January 30, summoned the governor of Central Bank of Nigeria (CBN), Godwin Emefiele, over excess and arbitrary charges being deducted from customers’ accounts by commercial banks.

Daily Trust reports that the resolution followed a motion by Senator Magnus Abe (APC, Rivers) and 22 others on the illegal bank charges.

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Legit.ng gathered Emefiele is expected to appear before the committee on Banking along with other stakeholders including Managing Directors of commercial banks.

The stakeholders, according to the resolution are to meet with the committee with a view to harmonizing and amending laws, rules and guidelines that do not adequately protect the customers and give them substantial remedy when overcharged.

The Senate also passed a resolution, urging the government to proactively protect customer’s rights, eradicate short payments of interest and end the culture of excess and arbitrary bank charges.

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Meanwhile, Legit.ng had previously report that the Senate on Tuesday, January 30, mandated its committee on Banking to probe alleged arbitrary charges and illegal deductions by commercial banks in the country.

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Source: Legit.ng

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