The House of Representatives has directed Chief Executive Officers of Nigeria’s commercial banks to appear personally before its investigative panel over allegations of unlawful and unexplained deductions from customers’ accounts.
The order was issued on Tuesday in Abuja by the House Ad‑hoc Committee probing tax deductions from civil and public servants’ salaries, as well as multiple bank charges.
Committee Chairman, Rep. Kelechi Nwogu, accused banks of engaging in systematic and illegal deductions, including charges that were neither transparent nor remitted to the appropriate authorities.
“Commercial banks are perpetrating illegality by deducting inexplicable charges from civil servants, public servants, and other customers without remittances,” Nwogu said.
Scope of Investigation
The probe will examine whether deductions were:
- Properly authorised.
- Correctly calculated.
- Used for their intended purposes.
The committee also summoned officials of the Ministry of Finance and announced plans to collaborate with the Office of the Accountant‑General, the Economic and Financial Crimes Commission (EFCC), and commercial banks to ensure a comprehensive investigation.
Insisting that bank CEOs must appear in person, lawmakers rejected the idea of representatives standing in for them.
“You cannot appear here without an identity. We are here on the mandate of the people who elected us,” Nwogu cautioned.
Banks were given a four‑day deadline to submit all required documents, with the committee warning that failure to comply would attract sanctions.
Nwogu reiterated the panel’s resolve to uncover the reasons behind what he described as unjustified and suspicious deductions from customers’ accounts.
The investigation is expected to set the tone for stronger oversight of Nigeria’s banking sector and greater accountability in financial transactions affecting civil and public servants.
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