Today, the Nigerian Senate passed a resolution calling on the Central Bank of Nigeria (CBN) to suspend the excessive ATM card maintenance charges being deducted from customers. This resolution came as part of a motion on the illicit and excessive bank charges on customers accounts, sponsored by Senator Olugbenga Ashafa (Lagos East, APC).
The Senate also called on commercial banks operating in the country to configure their machines to dispense up to N40,000 per withdrawal pending the outcome of the investigation by the Senate committees tasked with investigating the excessive and illicit bank charges.
Speaking on the Motion, the President of the Senate, Dr. Abubakar Bukola Saraki said: “This is a motion that affects the lives of every Nigerian — irrespective of what part of the country you come from or whatever political affiliation you might have. This is why we are here: to always defend and protect the interests of the Nigerian people.” …
GENTLEMEN OF THE PRESS.
1. We appreciate the fact that the 2018 Appropriations Law which was passed by the National Assembly on May 16th, 2018 was signed by President Muhammadu Buhari on Wednesday, June 20th, 2018.
2. In his speech at the signing ceremony, certain observations were raised about the work of the National Assembly and its Constitutional responsibility to modify and amend the budget estimates submitted to it by the Executive.
3. You may recall that when the National Assembly passed the 2018 budget, it gave reasons why the budget was increased and why certain projects and programmes had to be provisioned for. However, due to recent developments, it is once again necessary to let Nigerians know the justification for our actions on the 2018 budget, which were based on our Constitutional responsibilities. …