Senate Asks CBN To Suspend ATM Card Maintenance Charges


The Senate has asked the Central Bank of Nigeria (CBN) to suspend the charges being deducted from Nigerians for the maintenance of their Automated Teller Machine (ATM) cards.

Senate President Bukola Saraki disclosed this in a Facebook post after presiding over Wednesday’s plenary.

He said, “Today, at the Senate, we passed a resolution calling on CBN to suspend the excessive ATM card maintenance charges being deducted from customers.”

“For me, this is a major step that we have taken. This is because while in the private sector, I introduced the first ATM machine, which came into Nigeria over 25 years ago.

“All these years later, I believe that we should have grown out of these exorbitant charges,” the Senate President added.

Senate Asks CBN To Suspend ATM Card Maintenance Charges

Explaining the rationale behind the passage of the resolution, Senator Saraki said it was necessary because it affects every Nigerian, irrespective of their ethnic background and political affiliation.

According to him, the resolution passed is not the first intervention of the present Senate in matters which directly affect the welfare of the citizens.

“This Senate has done this many times before; when there was a hike in the mobile telecommunication data charges, we intervened and put an end to that.

“When there were discrepancies and increases in electricity prices, we also took action,” said Saraki.

He stressed that the primary responsibility of members of the Red Chamber was to defend and protect the interests of the people they represent.

The Senate President thanked Senator Gbenga Ashafa for sponsoring the piece of legislation, and members of the chamber who contributed to the debate.

EFCC Arrests Impersonator of Okonjo-Iweala’s Secretary

EFCCA suspected fraudster that impersonated Barrister Wilson Amarachi, Secretary to Minister of Finance and Co-ordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, has been arrested by operatives of the Economic and Financial Crimes Commission, EFCC.

John Nze Madu was arrested at Diamond Bank, Ojodu branch, Lagos, where he went to make withdrawals with an ATM card.

Investigation showed that Madu defrauded a Chinese national, Wu Qingzhu, of the sum of Five Thousand, Three Hundred and Eighty American Dollars ($5,380) when he allegedly posed as Barrister Wilson Amarachi and deceived the Chinese into believing that he had outstanding payments to collect for contracts executed for the Nigerian Government.

This, he achieved by presenting the Chinese with fake documents from high ranking Nigerian officials. He allegedly used different email addresses, two documents purportedly from Daily Sun Newspaper, an official gazette purportedly signed by President Goodluck Jonathan and Senate President, David Mark and an international passport data page purportedly belonging to Amarachi.

Madu contacted Qingzhu through an online message, informing him that he was expected to open a non-residence account in Nigeria and make payment of $300 (Three Hundred United States Dollars). Qingzhu complied and made two other payments: $1,430 (One Thousand Four Hundred and Thirty United States Dollars) and $3,650 (Three Thousand Six Hundred and Fifty United States Dollars), through Western Union.

Madu was arrested at the bank premises where he went to withdraw proceeds of his fraudulent activities.

He would be charged to court after investigations are concluded, according to the EFCC.