Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


#NoBankingDay: Nigerians may boycott banks on Tuesday

29 February 2016, 18:18

Lagos -  Nigerians are planning to shun banking activities on Tuesday.

This is to protest exorbitant deductions by commercial banks in the country.

Consumer Advocacy Foundation of Nigeria, a not-for-profit group dedicated to advocacy for consumer rights and protection in Africa’s largest consumer market is leading the protest.

According to a petition posted on CAFON’s website by the organisation’s president, Sola Salako, the #NoBankingDay is aimed at pressuring Nigerian banks to review their charges downwards.

The group is also calling for a review of bank forms and contracts to include more protection for consumers and for consumer complaints to be resolved promptly and satisfactorily.

Also read: Illegal charges 2015: banks refund N6.2bn - CBN

Other demands are that banks must clear fees with consumers before debiting their accounts and that CBN must review the new Stamp Duty Charge, Account Maintenance Charge and Debit Card Maintenance Fees. 

“March 1 is “No Banking Day” Protest against excessive bank charges Dear Nigerian Banks Consumers For many years now, consumers of banking services have been subject to series of poor and unsatisfactory transaction and relationship terms,” Salako said in the post.

“We have endured excessive charges, illegal fees and unfair contracts that only protect the bank but do not protect the consumers. 

“Banks debit our accounts at will for charges we never agreed to or were not aware of; they charge us for every little service; we pay for getting our statements; introduction letters; and now, some banks are charging N200 for the use of deposit and transfer forms!”

“ATM withdrawals that were free now cost N65 on 3rd withdrawals,” she said.

“ We pay N1000 for debit card issuance and renewals; we pay N105 for every online transfer; and they still charge N105 as Annual Debit Card Maintenance and now, a new Stamp Duty charge of N50 on every credit of over N1000 has just been introduced.” 

“COT that was supposed to end finally in 2016 is now being reintroduced as 1% of every withdrawal purportedly as Monthly Current Account Maintenance Fees!”

“That is why CAFON, a consumer rights NGO is calling consumers to join us in protest against banking exploitation by declaring Tuesday, March 1 2016 as NO BANKING DAY!” Salako said.

- News 24


Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...