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Lawyers kick against bank deposits charges

Urges reversal

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By Aishat Salihu

Following Central Bank of Nigeria’s new policy, the Lekki Forum of the Nigerian Bar Association has rejected the commencement of imposition of charges on deposits and withdrawals above N500,000.

According to a statement jointly signed by Chairman of the Chapter, Oladotun Hassan, and Secretary, Ayodele Ademiluyi, the lawyers described the charges as “evil, inhuman and wicked”, adding that the President Muhammadu Buhari-led administration is set to make life difficult for Nigerians.

“The obnoxious charges is evil, inhuman and wicked at a period when majority of Nigerian citizens are finding it difficult by the day to make ends meet under an inflationary and battered economy,” the statement read.
It noted, “It is becoming clearer by the day that the current President Muhammadu Buhari-led regime in power is set to make the year 2020 a year of economic armageddon for the citizens of the country.
“The inference is based on the imposition of Value Added Tax hike on Nigerians with commencement in year 2020 and to add insult to injury, Nigerians who are struggling to make ends meet under an inflationary and battered economy would have to pay unwarranted charges through their nose.”
Meanwhile, the lawyers have also called on Nigerians to rise and resist this “economic armageddon visited on the citizens of the country without prior consultation”, while also urging civil society organisations to strongly resist the charges.

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Support our journalism with a contribution of any size

Nigeria's media space is swamped with falsehood, deceit and delusion. Just a handful abides by the truth. TheNigerian is one of the unique platforms helping to shape the global narrative about Nigeria and her citizens across the world. It's quite costly to maintain this brand of journalism, however.

Readers from around the world, like you, make TheNigerian's work possible. We need your support to deliver quality, investigative journalism – and to keep it open for everyone. At a time when factual, honest reporting is critical, your support is essential in protecting our editorial independence. Every contribution, however big or small, is so valuable for our future.

Our brand of professional citizens' journalism requires a contribution from members of the public, patronage and sponsorship to thrive. We rely on this financial support to be able to carry out our numerous obligations of training, running cost, production, printing and general services. We also embark on Corporate Social Responsibilities through educational programs on our TV, newspaper and blogs.

Make a token donation to support us:
Account Name: Patriot and Sage Digital Communication Ltd
Account No: 1015619537
Bank Name: Zenith Bank

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