By Citizenship Newspaper
The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, on Thursday inaugurated an Ad-Hoc Committee to investigate alleged irregular deductions of taxes and sundry charges from the earnings of civil and public servants, as well as multiple bank charges on customers’ accounts across the country.
The inauguration, which took place at the National Assembly Complex, Abuja, drew the participation of lawmakers, government officials, representatives of financial institutions, regulatory agencies, and other key stakeholders in Nigeria’s financial sector.
In his address, the Speaker said the establishment of the committee underscores the House’s unwavering commitment to transparency, accountability, and fairness in the nation’s financial administration. He expressed concern over the rising complaints from Nigerian workers and account holders about questionable deductions and unexplained bank charges that have continued to erode citizens’ disposable income.
“As representatives of the people, we are entrusted with the duty to uphold transparency and fairness in our financial systems. The deductions faced by our public servants raise serious concerns. These dedicated individuals, who work tirelessly for our nation, should not bear the burden of unjust financial practices that diminish their earnings,” the Speaker said.
Rt. Hon. Abbas further decried the prevalence of multiple and often overlapping bank charges imposed on customers by financial institutions, noting that such practices not only undermine public trust but also place additional economic strain on ordinary Nigerians.
“The issue of multiple bank charges erodes public trust and places an undue strain on citizens’ finances. The demands for transparency and fairness in banking cannot be ignored; they require our immediate attention,” he added.
The Speaker urged the newly inaugurated committee to carry out its assignment with diligence, integrity, and a sense of purpose. He emphasized the need for collaboration among all members, urging them to engage with relevant ministries, departments, agencies, and financial institutions to uncover the truth and make recommendations that would lead to meaningful reform.
In his inaugural speech, the Chairman of the Ad-Hoc Committee, while expressing appreciation to the Speaker and the entire House for the confidence reposed in him, assured that the committee would leave no stone unturned in uncovering the facts surrounding tax deductions and multiple bank charges affecting Nigerian citizens.
According to him, “This Committee has been established in response to concerns expressed by public servants and citizens regarding the complexities surrounding tax deductions and various bank charges. We acknowledge that these issues have contributed to confusion and a lack of trust among our populace. As their representatives, it is our responsibility to address these concerns directly and ensure that financial practices promote justice and equity.”
He explained that the Committee would investigate the nature and application of taxes, levies, and salary deductions affecting civil and public servants, including any cases of non-remittance of funds by relevant authorities. The panel, he said, would also scrutinize the range of bank charges imposed on customer accounts, including the Value Added Tax (VAT) applied to existing service charges.
“We aim to identify irregularities, recommend essential reforms, and advocate for the rights of all Nigerians. 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,” he declared.
The Chairman called for active participation and cooperation from stakeholders in the financial and public sectors, stressing that meaningful progress could only be achieved through open dialogue and collaboration.
He expressed confidence that the outcome of the investigation would help restore public trust in the nation’s financial system and promote a more equitable economic environment for all.
In conclusion, both the Speaker and the Committee Chairman reaffirmed the commitment of the House of Representatives to ensuring that every Nigerian worker and account holder is protected from unfair financial practices.
They emphasized that the findings and recommendations from the investigation would form the basis for legislative and policy reforms aimed at fostering greater accountability, fairness, and transparency within Nigeria’s tax and banking systems.
The event marks a significant step in the House’s ongoing efforts to safeguard citizens’ financial interests and strengthen public confidence in the institutions responsible for managing their earnings and savings.
