ABUJA – Bank customers across Nigeria have expressed growing frustration over what they describe as excessive and unwarranted deductions from their accounts, calling on the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC), and other regulators to step in.

Speaking with the News Agency of Nigeria (NAN) in Abuja, several account holders lamented that the frequency and size of the charges were discouraging, with some questioning the transparency of the deductions.

Mrs. Helen Agodo, a First HoldCo Plc customer, said daily debits from her account were becoming unbearable.

“Some days, I get debit alerts totaling about ₦1,000. Imagine the amount the bank makes if this happens to 1,000 or 2,000 customers,” she said, adding that the practice discourages people from keeping their money in banks.

Miss Cheta Ugochukwu, who banks with Guaranty Trust Bank (GTB) Plc, described the deductions as “unfair and unsustainable,” especially under CBN’s cashless policy. She noted she was charged ₦1,146 for SMS alerts in a single month and ₦100 for an Electronic Money Transfer Levy — double the ₦50 limit set by regulations.

“I considered disabling SMS alerts to rely solely on my app, but now I’ve decided to act,” she said.

For Mr. Usman Idris, a Fidelity Bank Plc customer, the shock came when ₦3,700 was removed from his current account for “maintenance.”

“When I asked for clarification, I was told to write a formal letter. But they didn’t write to me before deducting my money,” he complained.

Mr. Roland Garba, a customer of Access Holdings Plc, joined the call for regulators to urgently address the situation.

A bank official, speaking on condition of anonymity, maintained that their charges comply with the CBN’s approved guide on bank fees.