Labour Kicks As 10 Banks Earn N138bn From Electronic Banking Services in One Year

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May 22, 2017

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Top banks in Nigeria have reported a rise in income from fees they charge customers for use of their various electronic banking services, including transaction alerts, Automatic Teller Machine (ATM) services and money transfers among others.

The top 10 banks earned N138 billion as at end of 2016. Total industry figure is expected to be over N160 billion.

Reacting to the development, the organized labour declared the e-transaction charges as a fraud, asking the Central Bank of Nigeria (CBN) and other regulatory agencies in the financial sector to intervene by preventing banks from further extorting customers, despite the harsh economic realities.

Hamilton Nwosa

Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

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