The Speaker of the House of Representatives, Femi Gbajabiamila, has admonished Deposit Money Banks against indiscriminate and ‘hidden charges’ imposed on their customers.
Gbajabiamila, who noted that the House was concerned that such a practice was making customers helpless, urged Nigerian banks to devise ways to address high charges on loans and other facilities they offered.
The Speaker said this when the board and management of Standard Chartered Bank, led by the Chief Executive Officer, Mr Lamin Manjang, visited him, according to a statement issued on Monday by his Special Adviser on Media and Publicity, Lanre Lasisi.
The statement was titled ‘Gbajabiamila voices concern over banks’ ‘hidden’ charges, exploitative marketing in Nigeria’.
The speaker said, “We have issues that come up in your industry, so this visit is a welcome development. One of the issues at stake is the rate at which banks charge customers. There are claims that banks have hidden charges. This has come up a couple of times on the floor of the House. This is something that we should look into.”
