The Ethnic Youth Leaders Council of Nigeria has underscored the critical role of the nation’s banking system’s integrity in maintaining economic stability and promoting growth.
This statement comes in response to growing complaints from Nigerians about unexplained deductions from their bank accounts.
The group’s stance follows a decision by the House of Representatives to launch an investigation into these allegations, prompted by a petition submitted against a bank earlier this week.
During a press conference in Abuja, Godwin Maliga, chairman of the Middle Beth Forum, and Kabir Yusuf, president of the Arewa Consultative Movement, urged the House of Representatives and the Economic and Financial Crimes Commission (EFCC) to conduct a comprehensive forensic audit of Nigeria’s financial institutions.
They expressed concerns over the large profits declared by certain banks, which have drawn public scrutiny.
“Recently, Guaranty Trust Bank reported a record-breaking one trillion naira profit for the first half of 2024, the first time any Nigerian company has posted such a figure,” the group pointed out.
However, the group questioned the accuracy of financial statements from some banks, calling for greater transparency in the sector.
“Stakeholders must demand accountability from financial institutions, and regulators must enforce strict compliance,” they said.
The group emphasized that the integrity of Nigeria’s banking system is essential for the country’s economic health and urged immediate action to restore public trust.
“We must address these serious concerns to rebuild confidence in the banking sector,” the statement concluded.
