Reps Investigate Irregular Tax Deductions, Multiple Bank Charges

The House of Representatives has launched an investigation into irregular tax deductions from workers’ earnings and multiple bank charges on customers’ accounts, responding to growing public outrage over what lawmakers described as “unjust financial practices” affecting millions of citizens.

The House therefore inaugurated an ad-hoc committee to look into the deductions and other related financial issues that led to complaints from civil and public servants, as well as ordinary bank customers across the country.
Committee

Chairman Kelechi Nwogu said the investigation was triggered by widespread concerns about confusing tax systems and excessive or duplicated bank charges imposed on customers.

“The House can no longer ignore the frustrations of citizens who suffer unexplained deductions from their salaries and bank accounts. “Our duty is to ensure that financial practices in both government and the banking sector reflect fairness, transparency, and accountability.” he said.

According to him, the committee’s mandate includes examining the nature and application of taxes, levies, and deductions from workers’ earnings; identifying possible cases of non-remittance of deducted funds; and assessing various bank fees, including Value Added Tax (VAT) applied to existing charges.

Nwogu said the panel’s goal is to identify irregularities and recommend reforms that promote financial justice.

He also called for the cooperation of government agencies, financial institutions, and regulatory bodies, saying collaboration would be crucial to restoring public confidence in Nigeria’s financial systems.

“We encourage all stakeholders banks, tax agencies, civil society groups, and the general public to participate in this process,” he said.

“Together, we can help create a fairer financial environment for every Nigerian.”

Speaker of the house, Dr Abbas
Tajudeen reaffirmed the National Assembly’s commitment to protecting citizens from arbitrary deductions and hidden charges.

Represented by the Chief Whip, Usman Bello Kumo, Dr Abbas said the creation of the committee underscores lawmakers’ responsiveness to the complaints of ordinary Nigerians.

“The deductions faced by our public servants raise serious concerns,” “These hardworking Nigerians, who serve the nation diligently, should not be subjected to unjust financial practices that diminish their already limited earnings.” the Speaker said.

He also condemned the rise in multiple and unclear bank charges, warning that such practices have deepened economic hardship and eroded trust in financial institutions.

“The issue of multiple bank charges cannot be ignored,” he said. “It places an undue burden on citizens and undermines confidence in the banking system. We must ensure that financial institutions operate with fairness and transparency.”

Abbas said the House would not tolerate exploitative practices in either the public or private sectors, stressing that the investigation was part of a broader effort to promote accountability and financial discipline in Nigeria.

He expressed optimism that the investigation would lead to concrete policy reforms and strengthen the financial system for the benefit of all citizens.

Oduyemi Odumade, Edited By Grace Namiji