Letter to the Editor

How Banks Defrauds Customers in Nigeria

Nigeria bank has finished this Nation.
They are silence killer and unarmed robbers.
If you’re in doubt, below are series of charges always place on innocent customers on a single banking transaction.

1 VAT.
2. Account maintenance charges
3. SMS alert charges
4. Transfer charges
5. Poster STAMP DUTY charges
6. Weekend charges.

Now, the Apex bank, the unarmed robbers’ boss introduced a CASHLESS ECONOMY whereby everyone does not need to carry cash for any transaction.
The problem is this: I am Cement trader. The landing cost of a bag of cement is #2,550 while we sell #2,600. That is a profit of just #50 per bag of cement.
Now on every 2 bag of cement, a customer transfer #5,200 into my account due to CASHLESS policy and my profits is #100.

To my amazement, the bank deducted the following on that transaction!
1. #53 transfer charges.
2. #100 Postal STAMP duty.
3. #6.98 VAT.
4. #76 SMS alerts charges.
5. #93.13 account maintenance charges.

That was not enough, on every single transaction, both account FROM which money is being transferred and the account TO which money is being transferred were changed for same transaction.

If you’re in doubt, find out by requesting for your account statement.
Don’t forget the bank had already lay off and reduce number of staff due to self service banking system o because more customers don’t have to visit banking hall for transaction again. So. Amount being pay on salaries and allowances of staff dropped.

Did the CBN Governor or federal government knows what they are doing at all.??

Or it was a deliberate acts of exploiting the poor citizens??

So, we are now being tricking enslaved by Government and the Bank??

This government will still come and collect income tax, trade permit at both state and federal level.

Who do we offend in Nigeria for us to have such extremely bad leaders, worst agencies and bad Nation like this???
No wonder businesses are being fold up and liquidated on daily basis!

No wonder people now buried cash in cementaries and farms.

Our Senators and House of Representatives who supposed to be vanguard of common man are not but a curse as well.
Who will put an end to all this injustice?
While I run around in rain and Sun for business to survive, the banks management just sit back in air conditioning and relax to feed on our sweat.
Very soon, they will complaints of shortage of cash in circulation because people will find alternative savings and security for the cash.

Comrade BANJO Stephen.

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