The House of Representatives has inaugurated an ad-hoc committee to investigate alleged deduction of taxes and multiple bank charges imposed on customers’ accounts.
Chairman of the committee, Hon. Kelechi Nwogu, while speaking at the inauguration, said the committee was set up to respond to citizens’ concerns and ensure that financial practices across both government and banking institutions aligned with the principles of justice and equity.
Nwogu stated that the committee’s mandate included investigating the nature and application of taxes, levies, and salary deductions affecting civil and public servants, as well as probing possible cases of non-remittance of deducted funds.
He stressed that the committee would also examine the range of bank charges, including Value Added Tax (VAT) applied to existing fees, with the aim of ensuring transparency and fairness.
Nwogu stated, “As their representatives, it is our responsibility to address these concerns directly and ensure that financial practices promote justice and equity.
“We aim to identify any irregularities, recommend essential reforms, and advocate for the rights of all Nigerians.
“We will evaluate the impact of these deductions and charges to ensure they are just and transparent. As we progress, we are prepared to make far-reaching and decisive recommendations, not minding whose ox is gored, and will not hesitate to utilize the full authority of the Legislature when necessary.”
Speaker of the House of Representatives, Hon. Tajudeen Abbas, reiterated the commitment of the 10th National Assembly to promoting fairness, transparency, and accountability in Nigeria’s financial system, particularly as it concerned tax deductions and multiple bank charges burdening citizens.
Abbas, represented by Chief Whip of the House, Hon. Usman Kumo, said the establishment of the committee reflected the legislature’s responsiveness to the cries of Nigerians, who had continued to experience arbitrary deductions from their salaries and accounts, both by government agencies and financial institutions.
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Kumo stated, “It is a privilege to stand before you today to inaugurate the House Ad-hoc Committee dedicated to investigating tax deductions and various charges affecting the earnings of our civil and public servants, as well as the excessive bank fees impacting everyday Nigerians.”
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