All the fraud and corruption that goes on in Nigeria somehow passes through the banks. But all this public money seems too juicy for anyone to let go off, and there will be no limit to the heights our banks will go without proper scrutiny and regulations.

Recently, I had my scariest experience with a certain bank, name synonymous with the word "Admission" Bank.

Within two months of opening a savings account with this bank I was charged almost N1,500 without making a single transaction.

I was sure to enquire when opening the account when I asked of any "hidden" or extra charges on savings accounts. Promptly, I was told there was none.

With less than two months after opening the account and making an initial deposit, my account balance is short by almost N1,500.
I was in the banking hall when a market woman who had been convinced to open an account came complaining that her money has disappeared and she could not meet up to some previously planned commitment.

Now, I am being told that the bank charges N100 monthly account management fee. Also, starting this year they will be charging their account maintenance fee annually as N1,000 for managing each savings account. This was not communicated to the customers using any customer by any means available. Not to mention the customer service staff who secretly added SMS alerts to my account opening form without my knowledge.

This bank silently debited all savings account by N1,000 in February even after they had taken the N100 monthly charge for the same month.

Now, tell me why anyone would want to entrust these people with their income and savings?

Is there something CBN can do about this?
Which way forward Nigeria?