Ordinarily, the requirement for banking services would grow in tandem with the volume of transactions generated, through trade and other payment obligations.
Nonetheless, despite the evidently shabby services and extended payments settlement, some critics may argue that the slow velocity of the settlement, helped to hold back inflation even though, it also delayed prompt receipt and turnover of the owner’s use of funds. Indeed, in the Nation Newspaper report of 24th October 2018, one Tawa Yakubu, a fashion designer shared her experience. She said, “there was a day someone sent me N2000. It was not even up to a minute before my bank sent an alert that my balance is N1950. I could not cry because I actually needed the exact amount the person sent me.” Incidentally, according to the same report, a Senate resolution which called on “CBN to suspend the ATM Card maintenance charges” seems to have been ignored.
Similarly, in August 2018, in an Editorial comment, titled “Ending Excessive Bank Charges”, the Leadership Newspapers noted as follows: “But there are multiplicities of other over-charges by banks that no one is petitioning against because of the size of the amount, logistics and cost that will be involved in following them through.
GhenhisKhan vanguardngr Organized corporate fraud cartel😒
vanguardngr Some spent years to get response on their foreign Aza, but our local banks are just tapping button to deduct Aza charges from Akkants kept under their 'save' keeping and NOTHING happens. Same crime, one ignored by law.
vanguardngr Banks are STEALING from the poor, the ignorant and handing it to the rich in this country while CBN and our government look away.
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