{"id":123440,"date":"2025-10-30T19:39:11","date_gmt":"2025-10-30T18:39:11","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=123440"},"modified":"2025-10-30T19:39:11","modified_gmt":"2025-10-30T18:39:11","slug":"lawmakers-probe-unfair-tax-deductions-multiple-bank-charges-on-citizens","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/lawmakers-probe-unfair-tax-deductions-multiple-bank-charges-on-citizens\/","title":{"rendered":"Lawmakers Probe Unfair Tax Deductions, Multiple Bank Charges on Citizens"},"content":{"rendered":"
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By Tracy Moses<\/div>\n
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The House of Representatives has inaugurated an Ad-hoc Committee to investigate the persistent deductions of taxes and other charges from the earnings of civil and public servants, as well as the multiple and often unclear bank charges imposed on customers\u2019 accounts across the country.<\/div>\n
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The committee, chaired by Hon. Kelechi Nwogu, was formally inaugurated on Thursday at the National Assembly. In his remarks, Nwogu said the House constituted the panel following rising complaints from workers and ordinary Nigerians about inconsistent tax deductions and arbitrary banking fees.<\/div>\n
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He described the committee\u2019s mandate as a major step toward reinforcing transparency, accountability, and fairness in the country\u2019s financial system, stressing that lawmakers could no longer overlook the distress of citizens who suffer unexplained deductions from their salaries and bank accounts.<\/div>\n
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“It is a great honour and sense of duty to lead this committee to investigate the deduction of taxes and sundry charges from the earnings of civil and public servants, as well as the multiple bank charges levied on customers\u2019 accounts,\u201d Nwogu said.<\/div>\n
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According to him, the initiative was borne out of citizens\u2019 frustrations and the urgent need to ensure that financial institutions and government agencies operate within the principles of justice and equity.<\/div>\n
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“These irregularities have created confusion and eroded trust among Nigerians. As representatives of the people, it is our duty to confront these issues head-on and guarantee that financial systems serve justice and fairness,\u201d he stated.<\/div>\n
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The lawmaker outlined the committee\u2019s responsibilities to include examining the nature, application, and remittance of taxes, levies, and deductions from workers\u2019 earnings; probing cases of non-remittance; and reviewing the structure of bank charges \u2014 including the application of Value Added Tax (VAT) on existing fees.<\/div>\n
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“Our goal is to detect irregularities, recommend vital reforms, and defend the financial rights of Nigerians,\u201d Nwogu declared. \u201cWe will critically assess these deductions and charges to ensure they are justifiable and transparent. We are ready to make bold recommendations without fear or favour, and we will exercise the full authority of the Legislature where necessary.\u201d<\/div>\n
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He appealed to government agencies, financial institutions, regulators, and civil society organisations to cooperate fully with the committee to achieve a credible outcome.<\/div>\n
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“I call on Honourable Members, experts, and stakeholders to participate constructively. Together, we can identify practical solutions and create a more equitable financial environment for all Nigerians,\u201d he said.<\/div>\n
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Nwogu further assured that the committee\u2019s work would not stop at identifying loopholes but would propose actionable reforms to rebuild public trust in the financial system.<\/div>\n
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He expressed appreciation to Speaker Tajudeen Abbas and members of the 10th House of Representatives for establishing the committee, describing the task as a matter of national significance.<\/div>\n
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“I commend the foresight of the Speaker and this House for entrusting us with this crucial assignment. I am confident that our work will lead to meaningful policy changes that advance fairness and accountability in our country,\u201d he added.<\/div>\n
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Inaugurating the committee, the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, reaffirmed the commitment of the 10th Assembly to promoting fairness, transparency, and justice in the financial dealings that affect ordinary Nigerians.<\/div>\n
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Represented by the Chief Whip, Hon. Usman Bello Kumo, the Speaker said the House\u2019s decision to set up the panel was in direct response to citizens\u2019 grievances about arbitrary deductions by both government agencies and commercial banks.<\/div>\n
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‘It is a privilege to inaugurate this Ad-hoc Committee tasked with probing tax deductions and numerous bank charges affecting our civil and public servants and everyday Nigerians,\u201d Abbas said.<\/div>\n
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He noted that civil and public servants, whose earnings are already strained by the current economic realities \u2014 must not be made to suffer further through unfair financial practices.<\/div>\n
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“As people\u2019s representatives, we are bound to uphold accountability and fairness within our financial systems. It is unacceptable that hardworking Nigerians continue to lose parts of their earnings to unclear and unjust deductions,\u201d he said.<\/div>\n
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Abbas also lamented the rising problem of multiple and ambiguous bank charges, which he said undermine public confidence and deepen financial hardship.<\/div>\n
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“The issue of multiple bank charges not only strains citizens\u2019 finances but also weakens trust in our banking institutions. These concerns must be addressed decisively,\u201d he stated.<\/div>\n
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He urged members of the committee to approach their assignment with diligence, objectivity, and patriotism, engaging stakeholders across all sectors to deliver a comprehensive and practical report.<\/div>\n
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“I implore members to remain transparent and collaborative. Your recommendations will be vital in restoring confidence in our financial system and ensuring Nigerians are treated fairly,\u201d the Speaker said.<\/div>\n
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Abbas stressed that the House would not tolerate exploitative practices from either government bodies or private institutions, adding that the probe was part of a broader legislative effort to protect citizens\u2019 interests.<\/div>\n
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“Our collective mission is to give every Nigerian a voice and to shape a just and transparent financial landscape for generations to come,\u201d he said.<\/div>\n
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The Speaker concluded by calling on the committee to remain united and focused, expressing optimism that their work would yield sustainable reforms that promote financial integrity and justice.<\/div>\n
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“Let us pursue this assignment with dedication and unity. I am confident that the outcome will strengthen public trust and entrench equity within our national financial systems,\u201d Abbas concluded.<\/div>\n
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