The House of Representatives has formed a special committee to examine complaints about heavy tax withholdings from the pay of government workers and confusing fees levied by commercial banks on customer accounts.
The panel, led by Kelechi Nwogu, a legislator from Rivers State, was officially launched on Thursday in the capital by Speaker Tajudeen Abbas.
Across the country, workers and account holders have raised alarms over deductions that shrink their take-home pay without clear justification. Public employees report overlapping taxes from different levels of government, while others claim contributions meant for pensions or housing schemes never reach the intended recipients.
Banks, meanwhile, face criticism for stacking fees on routine transactions, such as stamp duties, value-added tax, card upkeep costs, and transfer charges, often within the same operation.
The new committee will summon officials from the Central Bank of Nigeria, the Federal Inland Revenue Service, and major lenders to account for their practices and ensure compliance with fairness standards.
Findings from the inquiry may lead to policy changes aimed at rebuilding public confidence and easing financial pressures on households.
At the launch event, Nwogu described the initiative as a direct response to persistent public grievances. “This committee marks a critical effort to align public and private financial operations with fairness and openness,” he stated. The group plans to review the legal basis for all deductions, verify proper fund transfers, and assess the structure of banking fees.
Nwogu called for broad cooperation from regulators, lenders, and advocacy groups, adding that the panel would propose bold fixes regardless of vested interests.
Representing the Speaker, Chief Whip Bello Kumo echoed the House’s resolve to shield citizens from unfair financial burdens. “Government workers deserve protection from practices that diminish their earnings through no fault of their own,” Kumo said. He highlighted how opaque bank charges deepen economic strain and undermine trust in the system.
The committee’s work is expected to deliver recommendations that could streamline tax collection, curb duplicate levies, and standardize banking costs nationwide.
