Popular comedian and filmmaker Ayo Makun has expressed concerns over the high service charges imposed by Nigerian commercial banks.
He questioned how banks can report massive profits despite the country’s struggling economy.
AY voiced frustrations on his X page, highlighting that some of the service fees are unique to Nigeria and need to be challenged.
He stressed the need for transparency and fairness in banking practices.
AY wrote: “Where do banks get the trillions they declare as profits every quarter, even in a struggling economy? The small charges and debits on our accounts need to be challenged. Many of these fees are unique to Nigeria. Why is that? #BankingFees #Nigeria #Transparency #Shalom”.
AY’s concerns echo those of many Nigerians who feel that bank charges are excessive and unclear.
Klean Smith, on X expressed frustration with excessive bank charges by a bank. According to Smith, he was debited N720 for SMS, N350 for electronic money levy, and ₦53.45 for quarterly ATM card maintenance fee, he wrote: “My brother just yesterday a bank debited me #720 for SMS #350 for electronic money levy and 53.45 for quarterly ATM card maintenance fee . Furthermore,, to make matter worse, every transfer I do, am debited 6.69 for ussd code 26.50 for transfer charges. This is criminal”.
Another user, OjukwuWils responded to AY’s complaint about Bank charges, questioning the motivations behind his outrage. OjukwuWils asked if AY was genuinely concerned about the charges or just envious that the bank was making huge profits.
He wrote: “Are you just angry that they declared trillions as profit, or are you genuinely concerned about the charges? Why NOW? You also sell VVIP table for 10 at 20M, remember ? Are you genuinely concerned, or are you just being plain envious that they are more disingenuous than you?”.
Another user, Rachael Ugboma shared a frustrating experience with USSD transactions, stating that banks charge for each attempt, even if the transaction is unsuccessful. She highlighted that multiple failed attempts can result in multiple charges.
She wrote: “Worst when you try to use USSD, every attempt you’re being charged till the transaction becomes successful. Lets say you have 3 failed attempts you will be charged 3 times”.