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Reps Pass For Second Reading Bill To Stop Fraudulent Deductions By Commercial Banks

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By Gloria Ikibah
As a way to find lasting solutions to issues of fraudulent deductions from customers’ accounts by commercial banks, the House of Representatives has passed for second reading a “Bill for an Act to amend the Banking and Other Financial Institutions Act 202 and Other for Other Related Matters,” sponsored by Rep. Moses Fayinka, member representing Mushin II Federal Constituency of Lagos State.
In his lead debate Tuesday plenary, on the general principles of the bill, Rep. Fayinka regretted the frequent cases of withdrawals from customers’ accounts, and noted that billions of naira have been lost in the process.
“There is an alarming rise of bank fraud or unauthorised withdrawal of deposit funds in Nigeria. In the banking industry, about 101,801 cases were reported in 2022 and 48,703 cases were reported in 2023, making bank customers lose several billions of naira.
The objective of this piece of legislation, aims to stop illegal funds transactions where monies are moved from the customer’s account without the authorisation of the customer for such transaction to take place.
It is also to stop banks from the cover-up of such syndicates without reporting such action to the receiving bank and the police for necessary actions and for both the paying and receiving banks to get the culprits arrested and prosecuted and to pay all necessary bills in the course of the recovery processes.
The bill when into law also seeks to make a refund back to the victim’s account without charges.
“This Bill is in consideration to the uprising of various financial crimes within the country, with many of such passing through financial institutions or we can call it the commercial banking system.
‘We all know that virtually all banking transactions are done electronically, which means that transactions can either be ATM, POS, direct cash transfer, fast cash and many others, in which many bank customers have fallen victims and have lost their hard-earned fortune without help from any side”, he stated.
Contributing to the bill, Rep. Ahmed Jaha, the member representing Damboa/Gwoza/Chibok Federal Constituency of Borno State, criticized the multiple deductions.
He said: “Even today, people in the National Assembly saw debit alerts that they did not know where it came from. We ignore these deductions because they are negligible amounts but when you put it together, it runs into millions of Nigeria.”
Also contributing to the debate, Rep. Mohammed-Bello El-Rufai, member representing Kaduna North Federal Constituency of Kaduna Statep, called on the Central Bank of Nigeria to impose stiffer penalties on commercial banks found to be imposing charges on their customers.
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Rivers Assembly crisis: Stop castigating judiciary and Wike- Amerika tells political detractors (Video)

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A political activist in Port Harcourt, Rex Daniel Amerika has warned political detractors to stop castigating the judiciary and FCT Minister, Barrister Nyesom Wike.

Amerika gave this warning in a release he personally signed on Tuesday stating the deliberate attempt by the Rivers government to hoodwink the judiciary and damage the impeccable records of the FCT Minister.

Hear him;

“Maybe his men defected, yet the prerequisites of DEFECTION were not met?? Isn’t it obvious that the defection drama was only a smokescreen? A ploy to distract the power mongers and subject them to making mistakes??
Come to think of it:

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“If they hadn’t played defection, they wouldn’t have secured enough grounds to impeach him, he wouldn’t have committed the blunder of presenting budget to a 3-man Forum.

” Not defecting, wouldn’t have pushed SIM to come all out and show his true Character to the World. The defection playlet was bait Sim into irreparable errors.

“Defection drama has cajoled Sim into the bad books of the Judiciary and President Tinubu

“Defection charade has put Sim in a situation where he could only survive by surrendering himself to the Law and EFCC

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“Defection bruhaha has also put a number of Pro-sim detractors and partners in crime in the radar of the Police and EFCC via caretaker, and APP false election emergence.

“DEFECTION saga has opened the eyes of all Political fathers and kingmakers. To be thorough and not be dissuaded by outward cloke of decency.

” The fact that the defectees did not do due diligence in their DEFECTION as enshrined in the party constitution, only shows it was only a scam and sham with which to bewitch the Pro-sim Council of Lawbreakers. Emeka Beke said it all in the video below.

“I am only disappointed that vibrant young men, even old men would be easily bought by a few dollars to come off cheap to insult the Judiciary like their principal Sim does.

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He explained:””You accuse the Judiciary of favouring Wike but didn’t accuse the Judiciary when the State High Court Entertained a matter of defection which was beyond their jurisdiction.

“Yet, no Wikematic came on National TV to call it a fraudulent Judgement, even though we know Sim paid heavily for that Judgement.

“You are also aware of the serial State High Court move to disrupt Federal High Court Orders, rulings and Judgements courtesy of a fat pay cheque.

“Let the pro-simites repent from hypocrisy and prepare for the brutal legal onslaught awaiting them.

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“The Law is Supreme in any case and can never be blackmailed by subtle media piracy.

Watch video below:

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Sanwo-Olu asks court to restrain EFCC from arresting him after his tenure

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Lagos State Governor, Babajide Sanwo-Olu, has filed a lawsuit against the Economic and Financial Crimes Commission (EFCC) over an alleged threat to arrest, detain, and prosecute him after his tenure ends.

The suit, filed by Sanwo-Olu’s lawyer, Darlington Ozurumba, was brought before Justice Joyce Abdulmalik of the Federal High Court in Abuja.

During the hearing on Tuesday, Ozurumba informed the court that he had withdrawn the initial originating summons and replaced it with a new one.

He added that the anti-graft agency had been duly served with the updated court documents.

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However, EFCC’s counsel, Hadiza Afegbua, stated that she had not yet seen the documents.

Justice Abdulmalik also noted that the proof of service was missing from the court file and adjourned the case to November 11 for further mention.

The originating summons, marked FHC/ABJ/CS/773/2024 and filed on June 6, contains seven questions and 11 reliefs sought by the governor.

Sanwo-Olu is requesting a declaration that, under Section 37 of the 1999 Constitution, “the plaintiff, as a citizen of Nigeria, is entitled to right to private and family life as a minimum guarantee encapsulated under the Constitution of the Republic of Nigeria, 1999 before, during and after occupation of public office created by the Constitution.”

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He also seeks a declaration that, under Sections 43 and 44(1) of the 1999 Constitution, he is entitled to acquire, own, operate, and manage both movable and immovable property, including bank accounts, “as a minimum guarantee encapsulated under the constitution either before, during, and after leaving public office of governor of a state.”

Sanwo-Olu further argues that based on a reading of Sections 35(1) & (4) and 41(1) of the Constitution, any threat of investigation, arrest, or detention by the EFCC during his tenure is unlawful.

He contends that such actions would be unconstitutional and a violation of his fundamental rights to personal liberty and freedom of movement, as guaranteed by Sections 35(1) & (4) and 41(1) of the 1999 Constitution (as amended).

Additionally, the governor is asking the court to declare that the alleged harassment, threats of arrest, and detention instigated by political adversaries through the EFCC, based on what he described as false and politically motivated allegations of corruption, constitute an abuse of executive power and public office.

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Sanwo-Olu further urged the court to declare the EFCC’s actions as an unwarranted interference with his fundamental rights to personal liberty, freedom of movement, fair hearing, and equal protection under the law, as guaranteed by the Constitution and the African Charter on Human and Peoples’ Rights, CAP A9 LFN 2004.

The governor sought an order restraining the EFCC from harassing, intimidating, arresting, detaining, interrogating, or prosecuting him in connection with his tenure as Lagos State governor.

He also requested the court to issue an order prohibiting the commission from seizing his properties, international passport, or travel documents, or from freezing the bank accounts of either himself or his family members, in any way that would further violate his fundamental rights under the Constitution.

Additionally, Sanwo-Olu prayed for an order preventing the EFCC from inviting, arresting, or detaining him over matters relating to his tenure as governor. He emphasized the need for the court to protect his fundamental rights to personal liberty, fair hearing, private and family life, freedom of movement, and the acquisition of movable and immovable property, as enshrined in Nigerian law.

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Pastor Jerry Eze Builds New Home For Widow In Ondo (Video)

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The lead pastor of Streams of Joy International, Jerry Eze has built a home for a widow in Ondo State.

A video shared online shows Bishop and Reverend Mrs. Felix Adejumo dedicating the new house, which was constructed by Pastor Jerry on land provided by the Adejumos.

The video captures the widow’s joy and gratitude as she emotionally rolls on the ground in appreciation.

Pastor Jerry affirmed his dedication to helping others, saying,

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“Another life touched…We were born to do this.”

Watch Video Below:

 

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