Nigerian House of Representatives Probes Banks Over Illegal Deductions

The Nigerian House of Representatives has summoned bank CEOs to investigate illegal deductions from customers' accounts, focusing on unauthorized fees like alert charges and account maintenance fees. The committee chair, Kelechi Nwogu, accused banks of engaging in unlawful practices that cause financial hardship.

The investigation aims to ensure transparent and lawful banking practices, with the committee collaborating with the Ministry of Finance and EFCC. Banks failing to comply with document requests face sanctions.