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Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing - Politics - Nairaland

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Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by adenigga(m): 3:21pm On Apr 27
The Speaker of the House of Representatives, Femi Gbajabiamila, has expressed concern over the way Deposit Money Banks charge account holders indiscriminately, decrying that apart from known charges, there appeared to be other ‘hidden’ charges that banks imposed on their customers.

Gbajabiamila, who noted that the House was concerned that such a practice was making customers helpless, called on Nigerian banks to come up with ways to address high charges on loans and other facilities they offered.

The Speaker said this when the board and management of Standard Chartered Bank, led by the Chief Executive Officer, Mr Lamin Manjang, visited him, according to a statement issued on Monday by his Special Adviser on Media and Publicity, Lanre Lasisi.

The statement was titled ‘Gbajabiamila voices concern over banks’ ‘hidden’ charges, exploitative marketing in Nigeria’.

The speaker said, “We have issues that come up in your industry, so this visit is a welcome development. One of the issues at stake is the rate at which banks charge customers. There are claims that banks have hidden charges. This has come up a couple of times on the floor of the House. This is something that we should look into.”

He also expressed concern over the kind of ‘exploitative marketing’ some bank marketers were subjected to, asking if that was the practice all over the world.

Gbajabiamila asked, “You have corporations in the UK and other parts of the world. What obtains here in banking, in terms of marketing – sending people to go and knock at people’s offices and all that; does it obtain in those places? If it doesn’t obtain in those countries, it is not international best practice; why should it obtain here?”


The speaker recalled how he came up with a bill against corporate prostitution some years back but the legislation did not sail through.

He said, “We are here to support you. Whatever we need to do, we should do it to support you. We need to know the kind of marketing that takes place. Is it digital marketing?

“We also have to set realistic targets for the marketers. We have the responsibility to protect Nigerians, and we also have the responsibility not to kill your business. So, it is a delicate situation.”

The CEO of Standard Chartered Bank had earlier told the speaker that his bank was one of the oldest banks in Nigeria and that it had a strong presence in Asia, the Middle East and Africa.

Manjang, a Gambian, said having taken the position of CEO of the bank two years ago, it became necessary to visit the speaker to reiterate the bank’s commitment to Nigeria.

Responding to the issue of exploitative marketing, the CEO stated it was standard for banks to market their products to customers but added that it had to be ethical.

Manjang said, “It is not peculiar to Nigeria, but it has to be ethical. Teams usually go round, but the ethical conduct has to be there.

“You need to have marketing for people to know what you offer. If there are any abuses or conducts that are not ideal, they should be called out and addressed.”

Chairman of the House Committee on Banking and Currency, Victor Nwokolo, also noted that Nigerians had been battling with the issue of high interest rates by banks and that the issue needed to be tackled head-on.
https://m.punchng.com/Stop-hidden-charges-exploitative-marketing-Gbajabiamila-tells-banks

2 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by NwaNimo1(m): 3:22pm On Apr 27
They're just copying government - thieving from the masses!

28 Likes 2 Shares

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by chatinent(m): 3:28pm On Apr 27
Whatever that means.

3 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Jashub: 3:30pm On Apr 27
I hate when this people make noise without taking action. Most of the time they know the problem, but to tackle it is always filled with drama and condemnation. Nonsense

31 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Taywon: 3:30pm On Apr 27
Audio.... No action

14 Likes 1 Share

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by MANNABBQGRILLS: 6:33am On Apr 28
LAws must be enforced to really stop them

3 Likes 1 Share

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Leezah(f): 6:34am On Apr 28
The long term effects of inflation
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“What if my salary goes up with inflation?”
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That’s not the point. The point is, there will come a time where you’re no longer earning a salary & hopefully you have a large enough base of assets that will allow you to live comfortably without having to work
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Inflation has a compounding effect just like investment returns, but it’s a negative compounding effect
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Best way to get ahead of it is to start accumulating assets that compound sooner than later and/or to own assets that are deflationary in nature
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Don’t make the mistake of leaving out things like taxes or inflation when you’re creating a financial plan around your hard-earned assets

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2 Likes 1 Share

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by 4tomandchi: 6:34am On Apr 28
Imagine banks deducting money for use of electronic transfer.

Nigeria is finished.

GMB - Scam
APC - Scam


God bless Nigeria!!!

11 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Memphitz357: 6:34am On Apr 28
Nigeria from all indication is no longer safe for the least animal in the bush not to talk of we human beings.

Wetin remain for this country na explosion and disintegration because the level of suffering and injustice has long crossed the elastic limit cry

7 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Adedotguy: 6:34am On Apr 28
shocked
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by arimahoseloka(m): 6:35am On Apr 28
.
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by BIGGIE121(m): 6:35am On Apr 28
I don't know what is wrong with all this motherfuking politicians, always talking for meadia paparazzi without taking action.

6 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Chatflick(m): 6:36am On Apr 28
But he can't tell Buhari to call his brothers to order

1 Like

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by powerbanks: 6:36am On Apr 28
Help me Tell them.
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Brushstrokes20: 6:36am On Apr 28
Like govt, like banks.....

Useless Bunch of irredeemable THIEVES!

The shithole is on a cliff edge.

5 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Igbodicool(m): 6:36am On Apr 28
UBA's own dey too much.
Apart from aggressive crowd FIRST BANK is the best. But for your sanity, use POLARIS BANK!

2 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Okortor: 6:37am On Apr 28
If only Nigerians know the correlation btw dis guys n d banking industry.
They would stop taking them serious.

I have been in the industry, quite a while so i can precisely say that Nigerian banks doesn't care about their workers.

over time, the reason for donations to Federal Government is for favourable business policies so that they can make more billions and not necessarily because they have the masses at heart.

Same intention goes to many other top organizations.

So don't be surprised about their hidden charges, laying off staff's in disguise of no money to pay staff's salary.

They know what they are doing.

10 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by southsouthking(m): 6:38am On Apr 28
Please and Please, help a Brother going for a job interview tomorrow with transportation fare.

I reside at Alakoto Meji here in Badagry, and the location for the job interview is at Victoria Island.

Syngenta Nigeria Limited:
Plot 5 Chief Yusuf biodun Street, Oniru Road, Victoria Island, Lagos, Nigeria.



Please help me get this Job, it will be a life changer for me.

Nothing is too small please i beg you all in the name of God and Allah.
Thanks to you all.

1 Like 1 Share

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by vincent10(m): 6:38am On Apr 28
The speaker is just talking anyhow.

Nobody takes him serious. Too much talk without action. By tomorrow Hon. Speaker will forget what he said yesterday.
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by abbaapple: 6:40am On Apr 28
angry


Las las everybody na thief!!! lipsrsealed

1 Like

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Akamariner(m): 6:42am On Apr 28
Yea, banks are thiefs.
#boycottbank #usefintech
Whatsapp bulk messenger available at 15k

1 Like

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by izubext007: 6:42am On Apr 28
see kettle dey call pot black.........when legit people will apply for fed. jobs them politicians we hijack it and secretly employ thier folks.

3 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Tess24: 6:43am On Apr 28
Another piece of crap...
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by excel101(m): 6:47am On Apr 28
Very active to make statements on issues regarding banks than the terrerist called Pantami.
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by fasho01(m): 6:48am On Apr 28
Banks in Nigeria are big time robbers and exploitative organisations. What is needed is stringent laws to curb all of these and not all these irrelevant statements to sound politically correct

1 Like

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by FarahAideed: 6:48am On Apr 28
Is this what Gbaja should be concerned with at this point ?

2 Likes

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Kirkman: 6:52am On Apr 28
CBN that should be sanctioning these banks for such exploitative practices is giving them free reign for these banks to exploit customers anyhow. It's now Gbajamiala that is doing the job of CBN. What a wonderful country I ever had the misfortune to find myself in.
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by Grace001: 6:55am On Apr 28
Those banks are good at it. They deduct your money codedly, you won’t even get alert for those charges not until you check your account summary
Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by drololaaof: 6:56am On Apr 28
The thing is that the marketers were used as slaves ,halotry , they were paid peanuts, threatened with sack if they did not meet their set targets

1 Like 1 Share

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by KangaIye: 6:58am On Apr 28
FCMB comes to my mind

1 Like

Re: Gbajabiamila Tells Banks To Stop Hidden Charges, Exploitative Marketing by yesloaded: 7:06am On Apr 28
NwaNimo1:
They're just copying government - thieving from the masses!


I agreed with you

1 Like

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