Politics
Reps To Investigate Excess Charges By Banks
The House of Representatives has mandated its committee on banking to investigate and determine the extent of alleged excess charges on public institutions and individuals accounts held in various banks.
This was sequel to a unanimous adoption of a motion by Rep. Yusuf Gagdi (APC-Plateau) at the plenary yesterday.
The committee would also liaise with financial consultants to investigate charges in the last eight years with the view to recover same in the interest of customers.
Gagdi said that when properly managed and run in accordance with banking ethics, the banking sector would open up the economy as it galvanises the critical factors of production and wealth creation.
He said where international best practices are applied in banking, the sector becomes very pivotal to economic growth and national development.
The lawmaker said as pivotal as the banking industry was to economic development, the experiences of individuals, public institutions and corporate customers of banks have been that of mixed feelings.
He alleged that excess and illegal debits on accounts held by customers in the name of bank charges have been very disturbing.
Gagdi said that charges ranging from ATM charges, account maintenance fee, card maintenance charges, SMS notification charges, among others, have been a source of worry to customers across the country.
He said that although the Central Bank of Nigeria (CBN) had intervened on many occasions, many of these illegal charges continued unabated for a number of reasons.
“This includes but not limited to size of the amount, logistics and cost of following the matter through to conclusion since the banks are aware that customers are not likely to abandon their jobs and businesses to pursue such cases,”he said.
He said that the banking industry was supposed to be a catalyst for economic growth and wealth creation but lack of transparency in the industry has made investment by local and foreign investors very unattractive.
“While we may choose to colour or dress the language used to qualify the action of these banks by merely referring to it as excess charges, the reality remains that it is an outright stealing of customers’ deposits by banks and every hand must be on deck by any affected customer,” he said.
During a press conference held in Owerri, the coalition called the campaign a “dangerous and shameful display” designed to distract the public from the governor’s performance in office.
The CSOs directly linked the Greater Imo Initiative (GII) —the group that made the allegations on September 4, 2025—to Governor Uzodimma, describing the group as his “mouthpiece and attack dog.”
“Every word spoken against INEC was spoken on his behalf.
“By falsely alleging that Professor Yakubu has an alliance with Dr. Amadi to compromise the 2027 elections, Uzodimma has not only maligned a man of proven integrity but also assaulted the very foundation of our democracy”, said Dr Agbo Frederick, speaking for the coalition.
The coalition described Professor Yakubu as a “beacon of electoral professionalism” and called the attempt to soil his reputation “defamatory and a national security risk.”
They also defended Dr. Amadi, a “respected development scholar,” stating that the governor’s accusations were “laughable, desperate, and dangerous.”
The CSOs see the motive behind the campaign as an attempt to “silence the dissent, intimidate the opposition, and divert attention from the governor’s abysmal record in office.”
The coalition issued four key demands to Governor Uzodimma: An immediate retraction of the false and defamatory allegations against Professor Mahmood Yakubu and Dr. Chima Amadi.
- A public apology to both men within seven days, to be published in at least three national newspapers and broadcast on major television networks.
- An end to diversionary tactics and proxy propaganda.
- A renewed focus on governance, including addressing insecurity, unemployment, and poverty in Imo State.
The CSOs warned that failure to comply would force them to “review our position with a view to seeking legal redress from Governor Uzodimma for defamation, false accusation, and reckless endangerment of lives.”
“Governor Uzodimma must be reminded that he did not find himself in the seat of power to chase shadows.
“We call on all Nigerians to reject Uzodimma’s diversionary antics as they are nothing short of desperate plots by a government terrified of accountability”, the statement concluded.
In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC expressed concern that preventing the senator from resuming her legislative duties violates democratic principles and disenfranchises her constituents.
“The suspension, having been imposed by the Senate and not a court of law, has lapsed. Any further attempt to prevent her from resuming is therefore both illegal and morally indefensible,” Mallam Abdullahi said.
The party noted that denying Sen. Akpoti-Uduaghan access to the chamber silences the voice of the people who elected her, adding that the withdrawal of her salary, aides, and office access during the suspension amounted to excessive punishment.
The ADC also criticised the Clerk of the National Assembly for declining to process her resumption on grounds that the matter was before the courts, arguing that the Clerk’s role was administrative, not judicial.
“Administrative caution must not translate into complicity. When the administrative machinery becomes hostage to political interests, the institution itself is diminished,” the party stated.
Highlighting that Sen. Akpoti-Uduaghan is one of only four women in the 109-member Senate, the ADC warned that the handling of the case sends a discouraging signal about gender inclusion in Nigerian politics.
“Any action that resembles gender intimidation of the few women in the Senate would only discourage women’s participation. Nigeria cannot claim to be a democracy while excluding half of its population from key decision-making spaces,” Mallam Abdullahi added.
The ADC insisted that Sen. Akpoti-Uduaghan be allowed to resume her seat immediately, stressing that the matter was about more than one individual.
“What is at stake here is not just one Senate seat, but the integrity of our democracy itself,” the party said.
