The House of Representatives has resolved to investigate the illegal and indiscriminate Automated Teller Machines, ATM charges by commercial banks.
The resolution emanated from a motion under matters of urgent public importance moved by Yusuf Tajudeen and unanimously adopted by the house.
Tajudeen expressed concerns that illegal ATM charges by banks is in flagrant abuse of CBN directive that the N65 deduction starts to apply from the fourth withdrawal at other banks’ ATM in a month.
He alleged that banks do not comply with the CBN directive which makes the first three withdrawals in other banks ATM free.
He expressed worry that the CBN is not taking any reasonable and punitive measure to sanction banks engaged in this illegal practice.
In his ruling, Speaker of the House, Yakubu Dogara therefore mandated the committee on Banking and Currency to investigate the matter and report back to the House in two weeks.
