AY Makun Calls Out Banks Over Excessive Charges, Nigerians React
Popular comedian and actor AY Makun has sparked widespread discussions after questioning the excessive charges imposed by Nigerian banks.
Taking to X (formerly Twitter) on March 31, 2025, AY expressed concern over the massive profits declared by banks each quarter, despite the country’s struggling economy. He argued that customers should challenge these deductions, as many of the charges appear unique to Nigeria.
“Where do banks get the trillions they declare as profits every quarter, even in a struggling economy? The small charges and debits on our accounts need to be challenged. Many of these fees are unique to Nigeria. Why is that?” he posted.
His comments resonated with many Nigerians, who flooded social media with complaints about constant deductions. A user wrote, “My brother, just yesterday, Zenith Bank debited me ₦720 for SMS, ₦350 for an electronic money levy, and ₦53.45 for a quarterly ATM card maintenance fee. To make matters worse, every transfer I do gets a ₦6.69 USSD charge and ₦26.50 transfer fee. This is criminal.”
Others accused AY of hypocrisy, questioning why he was speaking up now. “Are you genuinely concerned about the charges, or just angry that banks declared trillions in profit? You also sell VVIP tables for ₦20 million. Are you envious or concerned?” one user asked.
Some blamed the government rather than the banks. “Your problem is not the banks; your problem is the government,” a commenter argued.
Another user shared their frustration over high deductions, writing, “GTBank charged me ₦1,135 on a savings account with an inflow of less than ₦80,000 in March 2025. After VAT, commission, and other deductions on every transaction, this is scary. If it happens again, I’ll close my account.”
Many also speculated that banks were behind predatory loan apps. “I’m very sure these big banks have shares in loan apps or even operate illegal loan businesses. They’re the biggest loan sharks in Nigeria,” one person alleged.
Another major complaint was the repeated charges on unsuccessful USSD transactions. “When you try using USSD, every failed attempt gets charged until the transaction is successful. If you have three failed attempts, you’ll be charged three times.”
The conversation highlights growing frustration among Nigerians over financial deductions, with many calling for a review of banking policies to ensure fairer charges for customers.
