Chaired by Hon. Kelechi Nwogu, the committee was launched in Abuja amid rising public outcry over opaque and arbitrary cuts that erode workers’ earnings and household finances.

“This probe is about restoring trust and fairness in Nigeria’s financial system,” Nwogu declared. “We will leave no stone unturned—whether it’s non-remitted taxes, hidden levies, or excessive bank charges, including VAT on fees.” 

The committee’s mandate includes:Examining the legality and application of all salary deductions 

Investigating non-remittance of withheld funds by agencies, reviewing bank charges for transparency and justification, recommending reforms to protect citizens from exploitation 

Speaker Tajudeen Abbas, represented by Chief Whip Hon. Usman Bello Kumo, hailed the initiative as a direct response to public grievances.

“Nigerians are tired of seeing their hard-earned money vanish without explanation,” Abbas said. “This House will not stand by while trust in banking and governance erodes.” 

He charged the committee to work with urgency and impartiality, assuring that the 10th Assembly will implement its findings to enforce accountability.

Nwogu called on banks, the Federal Inland Revenue Service (FIRS), Nigeria Inter-Bank Settlement System (NIBSS), and other stakeholders to cooperate fully, warning that the probe will be thorough “no matter whose interest is affected.”

The investigation comes as civil servants and bank customers report persistent complaints about unexplained deductions, fueling demands for systemic reform in Nigeria’s tax and banking frameworks.