Speaker of the House of Representatives, Hon. Abbas Tajudeen, on Thursday flagged off an investigation into allegations bordering on illegal tax deductions and various charges affecting the earnings of civil and public servants, as well as excessive bank fees imposed on Nigerians.
Hon. Tajudeen, who spoke in Abuja during the inauguration of the ad hoc committee chaired by Hon. Kelechi Nwogu, reiterated the House’s resolve to strengthen the principles of justice and equity in the country.
Represented by the Minority Whip, Hon. Usman Kumo, Speaker Tajudeen said: ‘As representatives of the people, we are entrusted with the duty to uphold transparency, accountability, and fairness in our financial systems.
‘The deductions faced by our public servants raise serious concerns. These dedicated individuals, who work tirelessly for our nation, should not bear the burden of unjust financial practices that diminish their earnings.
‘Moreover, the issue of multiple bank charges erodes public trust and places an undue strain on citizens’ finances. The demands for transparency and fairness in banking cannot be ignored; they require our immediate attention.’
He assured that the committee would work diligently and with integrity, engaging stakeholders across various sectors to uncover the truth and provide actionable recommendations for reform that protect the rights of citizens.
‘I encourage each member to approach this task with collaboration and an open mind. Together, we have the opportunity to enact meaningful change and restore confidence in our financial institutions.
‘Let us remember that our efforts aim to ensure that every Nigerian has a voice and that our actions will shape a just financial landscape for future generations.’
On his part, the chairman of the ad hoc committee investigating the deduction of taxes and sundry charges from the earnings of civil and public servants, as well as the multiple bank charges on customers’ accounts in Nigeria, disclosed that the investigation aimed to identify irregularities, recommend essential reforms, and advocate for the rights of all Nigerians.
He said: ‘This committee has been established in response to concerns expressed by public servants and citizens regarding the complexities surrounding tax deductions and the various bank charges impacting Nigerians.
‘We acknowledge that 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.
‘Today marks a pivotal moment in our commitment to transparency and fairness. This committee is tasked with investigating the nature and application of taxes, levies, and salary deductions affecting civil and public servants, including any instances of non-remittance of these funds.
‘Additionally, we will scrutinise the range of bank charges imposed on customer accounts, including Value Added Tax (VAT) applicable to existing charges.
‘We aim to identify any irregularities, recommend essential reforms, and advocate for the rights of all Nigerians. We will evaluate the impact of these deductions and charges to ensure they are just and transparent.
‘As we progress, we are prepared to make far-reaching and decisive recommendations, not minding whose ox is gored, and will not hesitate to utilise the full authority of the Legislature when necessary.
‘I encourage each of you-Honourable Members, industry experts, and stakeholders-to engage in this investigation with open minds and a collaborative spirit. Your contributions are essential as we seek effective solutions.
‘We encourage participation from a diverse range of stakeholders throughout this process. Together, we can facilitate the establishment of a more equitable financial environment for all Nigerians.’