#NoBankingDay: Will Nigerian Bank Customers Really Protest?

Empty Bank
Empty Bank

In Nigeria, everything goes. Banks are free to overcharge without penalty. Airlines are free to run late without any penalty or compensation to travellers. Its alright for Politicians to loot. They are rich enough to hire Senior Advocate of Nigeria (SAN) to advocate for them. Government are free to allocate elaborate funds to build new government homes. Does it matter? Do they care enough. Don’t get me started oh. Have I left off the Senators and Reps? Where do I start with this bunch? I wouldn’t bother.

PM News has reported that the boycott of the Nigerian banks which is on today (1 March) is to highlight and protest against Excessive Bank Charges organised by Consumer Advocacy Foundation of Nigeria (CAFON) and Coalition of Nigerian Consumer Protection Association.

The National President, Constance Shareholders Association of Nigeria (CSAN), Mr Shehu Mikail, on Monday urged all bank users to join the protest.

Mikail said that the Central Bank of Nigeria (CBN) directed all commercial banks to charge customers N50 on deposits from N1, 000 and above, as part of Nigeria’s stamp duties law on financial transactions.

“Apart from this, there are other silent charges administered by Nigerian banks” he said.

He said there was need to alert the Federal Government on these excessive charges by Nigerians banks.

Mikail suggested that government should come up with a good economic blue print on how to restructure the economy.

He described the charges as another way of imposing extra tax on the masses, adding that the policy would discourage people from banking.

How effective will this protest be? Judging by Nigerians’ attitude to protest, I don’t see it having any major impact. There is no common interest for Nigeria. Everyone has a hidden agenda. Selfishness and greed are the root of Nigeria’s problems. Its the truth and I don’t expect this to resonate with the majority of Nigerians, because it is what it is and it is where these people are, unfortunately as this may be. This is not to say one shouldn’t go ahead to protest.





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