By Hassan Taiye

The House of Representatives has mandated its Committee on Banking Regulations to urgently summon the Central Bank of Nigeria,CBN, along other major commercial banks operating in the country to appear before it and explain rationale behind increasing cases of arbitrary and incessant bank charges of customers.

This followed the adoption of a motion moved during plenary yesterday by Hon. Muktar Shagaya.

Hon. Shagaya is a lawmaker representing Asa/Ilorin West Federal Constituency of Kwara State in the House of Representatives.

In his lead debate for his motion, the lawmaker expressed deep concern over the exploitative deductions and lack of transparency in the banking sector across the country noting that millions of Nigerians have suffered undue hardship because of repeated unexplained hidden charges that often go unchallenged by most bank customers.

The lawmaker further used the opportunity to lament against the illegality on customers adding that banks consistently declare huge profits every year while their customers are left frustrated by numerous deductions ranging from stamp duties, SMS alerts, account maintenance fees, transfer charges, and other illegal levies.

According to the lawmaker: “”the current trend does not only erodes public trust but also undermines the country’s drive toward a cashless economy”.

He equally maintained that despite the CBN’s issuance of guidelines on approved bank charges major financial institutions and mostly commercial banks have continue to flout the regulations with impunity, while exploiting the ignorance of their customers.

The lawmaker also argued that such practices amount to economic sabotage which require an urgent intervention to protect the interests of the whole banking public and Nigerians at large.

While adopting the motion, lawmakers urgently called on the CBN to publish a comprehensive and simplified list of all approved bank charges and ensure immediate and strict enforcement of penalties against erring financial institutions.

Consequently, lawmakers also used the opportunity to emphasize the need for transparency and accountability in the banking sector, maintaining that the current situation does not go down well with customers as its unsustainable.

Meanwhile lawmakers used the opportunity to task CBN on the establishment of an accessible and efficient complaints mechanism for the purpose of addressing customers complaint with a view to tackling it.

According to lawmakers, CBN must guarantee prompt resolution and restitution for affected customers without unnecessary bureaucracy.

During the deliberations, several lawmakers supported Hon. Shagaya’s motion even as some lawmakers cited personal and constituents experiences of arbitrary deductions.

The House thereafter unilaterally called for closer monitoring of commercial banks’ operations in order to ensure strict compliance with consumer protection standards and financial fairness.

Consequently, the House urged the Federal Competition and Consumer Protection Commission, FCCPC, among other relevant agencies to collaborate with civil society groups with a view to launching a nationwide awareness campaign to educate customers on their rights regarding bank charges.

They maintained that such sensitization would empower Nigerians to challenge unlawful deductions and demand transparency and accountability in all transaction.

Hon. Shagaya who had also commended the House for its unanimous support informed that his motion was not only timely but also essential in restoring fairness and confidence in Nigeria’s financial institution and sector.

He, however reaffirmed readiness to ensuring that banks operate within the legal legislative framework set by regulatory authorities.

The Committee on Banking Regulations was mandated to immediately commence engagements with the CBN and other commercial banks in no distance time as well as report back to the House within 4 weeks for further legislative action.

By Hassan Taiye

The Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike has cleared the air over the news going round concerning his absent at the last Council of State meeting presided by President Bola Tinubu last week.

Some online reports had claimed that the Minister boycotted the meeting because his preferred person for the chairmanship position of the Independent National Electoral Commission (INEC) failed to scale through.

But, on Tuesday, while commissioning an access road in Sector B within Daki Biyu District of Abuja, Barr. Wike disclosed that prior engagements he had for the day kept him away having informed the appropriate authority. And that he had to asked the Minister of State, FCT, to represent him.

He distance himself from those who are saying that he purposely boycotted the meeting, stressing that he works for President Bola Tinubu and trusts the president’s judgement.

According to him: “Sometimes last week Thursday, we had a flag off, and I told the Minister of State, FCT, to represent me at the Council of State meeting. I had already told Mr. President that I would not be available because of other engagements we have already put in place. So, the Honourable Minister of State represented the FCT in that meeting”.

“we have to be careful, when people carry unnecessary propaganda and blackmail. In spite of those things, be focused and you will achieve your results. They said I did not attend because I was not happy that my own nominee was not there. I work for Mr. President. Mr. President’s judgment as far as I’m concerned in this country has always been how to put this country in the right perspective. But I told people not to bother. Be focused. When you start delivering, the achievement will silence all critics”.

The Minister while appraising the transformation of landscape of Daki Biyu District, mentioned the completion of roads and infrastructure projects including the upcoming inauguration of the Abuja Division of the Court of Appeal in the area.

” I reconnect the day we came here when we were trying to identify where we are going to build the Abuja Division of the Court of Appeal. As we were coming, I told my national secretary, that road was commissioned, 1st of July 2025, the second year anniversary that Mr. President had”.

“Here you have the Police Service Commission, here you have the Code of Conduct Tribunal, and all of our federal agencies. All the roads here were unpassable. And then I said, how are we going to sight the Abuja Division of the Court of Appeal? I thank God today, by the support of His Excellency Mr. President, by his leadership, it is now a thing of the past because all the roads here have all been completed”.

He praised President Tinubu’s leadership, attributing the achievements to his vision and guidance.

” I have always said, when you have the right leadership, you can achieve the expected results. Mr. President, Bola Ahmed Tinubu, Grand Commander of the Federal Republic of Nigeria, has shown the right leadership. And that is why we are able to achieve. People are talking about the achievements we have made, it is because of the right leadership. When you have the right leadership, you get things right and you get things going”.

Wike thanked the FCT Minister of State, Dr. Mariya Mahmoud for her support and harmonious working relationship between them.

“I’m happy that I have a Minister of State who has been very supportive. It is not easy. It is not easy to have two ministers that work so closely and cooperatively. I was a Minister of State and I knew what happened in other ministries. Without working together, you cannot achieve anything. So, Honorable Minister of State, I want to commend you and thank you for the support”.

By: Fabian Apechihin

The Federal Government only grants approval to private universities that meet strict regulatory standards aimed at expanding access and improving the quality of higher education in Nigeria, the National Universities Commission (NUC) has said.

NUC Executive Secretary, Professor Abdullahi Yusufu Ribadu, stated this during the 20th Anniversary and 17th Convocation Ceremony of Redeemer’s University, Ede, Osun State. He was represented at the event by Ayoteju Ojo, Deputy Director in the Office of the Executive Secretary.

Ribadu emphasized that higher education remains a vital driver of national development, innovation, and social transformation. He noted that the Federal Government’s policy on licensing private universities was designed to enhance capacity and uphold quality standards across the university system.

“Redeemer’s University stands as a shining example of this vision. Since its establishment in 2005, it has produced graduates who are globally competitive, ethically grounded, and entrepreneurial in outlook,” he said.

The NUC boss commended Redeemer’s University for its outstanding record in research, innovation, community service, and quality assurance, noting that these achievements align with international best practices.

He urged the graduating students to become job creators and agents of positive change, saying,

“The certificate you receive today is not just a qualification; it is a license to innovate, to lead, and to stand for integrity.”

In his address, the Vice-Chancellor of Redeemer’s University, Professor Shadrach Akindele, charged the graduating ‘Indomitable Class of 2025’ to embrace creativity and diligence as they step into the wider world.

“You are graduating into a world that is both connected and challenging. The world does not need more spectators or critics — it needs problem-solvers, leaders of integrity, and visionaries,” Akindele said.

He urged the graduates to reject cynicism about Nigeria’s future, stressing that national progress depends on the dogged and determined efforts of its citizens.

“You are now among the most highly educated one percent of this nation’s youth,” he added.