By Bilesanmi Abayomi
A United Kingdom–based Nigerian, Nelson, has called on the Federal Government and Nigerian banks to explain the continued charges on local bank transfers, describing the practice as unfair and exploitative.
Nelson made the call via a WhatsApp status sighted by KosofePost on Saturday, questioning why banks persist in deducting fees on local transfers despite already utilising customers’ deposits for trading activities and loan issuance.
According to him, most Western countries allow free local bank transfers, with charges largely limited to international wire transactions. He argued that Nigerian banks derive significant benefits from customers’ funds and should not impose additional financial burdens through routine transfer charges.
Nelson also criticised the Federal Government over what he described as a faulty January tax implementation, alleging a lack of transparency and accountability in the management of Nigeria’s natural resources.
“How can we trust a government that cannot clearly account for the natural resources Nigerians are endowed with, yet seeks to impose hefty 20 per cent tax extras on citizens?” he queried.
He further faulted claims of tax exemptions for incomes below ₦800,000, describing them as unrealistic. According to him, a large percentage of Nigerians are not salaried workers but self-employed individuals struggling to survive in a difficult economic climate.
In a strongly worded message directed at President Bola Ahmed Tinubu, Nelson expressed frustration over increasing deductions and taxes, noting that citizens are already overburdened by rising costs of living and economic hardship.
His comments reflect growing dissatisfaction among Nigerians at home and in the diaspora over banking charges, taxation policies and broader issues of economic governance.