Reps probe tax deductions, multiple bank charges

The House of Representatives on Thursday inaugurated an Ad-hoc Committee to investigate the deduction of taxes and sundry charges from the earnings of civil and public servants, as well as multiple bank charges imposed on customers’ accounts across the country. Chairman of the committee, Hon. Kelechi Nwogu, said the panel was established in response to […]

The House of Representatives on Thursday inaugurated an Ad-hoc Committee to investigate the deduction of taxes and sundry charges from the earnings of civil and public servants, as well as multiple bank charges imposed on customers’ accounts across the country.

Chairman of the committee, Hon. Kelechi Nwogu, said the panel was established in response to mounting concerns from civil servants and ordinary Nigerians over the growing complexities and inconsistencies in tax deductions and banking fees.

Nwogu described the inauguration as a pivotal step in the National Assembly’s commitment to transparency, fairness, and accountability, noting that the House could no longer ignore the frustrations of citizens that suffer unexplained deductions from their salaries and bank accounts.

According to him, the committee was set up to respond to citizens’ concerns and ensure that financial practices across both government and banking institutions align with the principles of justice and equity.

“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 said.

He outlined the committee’s mandate to include investigating the nature and application of taxes, levies, and salary deductions affecting civil and public servants, as well as probing possible cases of non-remittance of deducted funds. 

The committee will also examine the range of bank charges, including Value Added Tax (VAT) applied to existing fees, with the aim of ensuring transparency and fairness.

Nwogu called for full cooperation and participation from all stakeholders, including government agencies, banks, regulatory bodies, and civil society organisations. 

The Speaker of the House of Representatives, Abbas Tajudeen, reiterated the commitment of the 10th National Assembly to promoting fairness, transparency, and accountability in Nigeria’s financial system, particularly as it concerns tax deductions and multiple bank charges burdening citizens.

The Speaker, who was represented by the Chief Whip of the House, Hon. Usman Bello Kumo, said the establishment of the committee reflected the legislature’s responsiveness to the cries of Nigerians who have continued to experience arbitrary deductions from their salaries and accounts, both by government agencies and financial institutions.