AY Makun Calls Out Nigerian Banks Over Charges, Social Media Users React

After challenging Nigerian banks about the several charges taken from clients’ accounts, well-known comedian and actor AY Makun sparked online debates.

On March 31, 2025, AY took to X to question the enormous profits that banks report every quarter in spite of Nigeria’s faltering economy.

His remarks, which were shared via his social media platforms, resonated with many Nigerians who have long expressed frustration over what they perceive as unfair deductions and hidden fees imposed by financial institutions.

However, he emphasised that the banks should be held accountable and that the accusations should be contested.

“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 said.

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? #BankingFees #Nigeria #Transparency #Shalom"
— AY COMEDIAN (@AYCOMEDIAN) March 31, 2025

AY Makun’s comments have reignited discussions on the need for financial reforms in Nigeria.

See reactions below:

@klean_smith: “My brother just yesterday Zenith Bank debited me #720 for SMS #350 for electronic money levy and 53.45 for quarterly ATM card maintenance fee . Furthermore,, to make matter worst, every transfer I do, am debited 6.69 for ussd code 26.50 for transfer charges. This is criminal“

@Bulls_eyes0: “That and business loans. The interest rates on commercial banks business loans is outrageous“

@ElijahSund6953: “gtbank you lots have the guts to debit me 5000 for sms charges on this current economy… anyways one customer lost“

@akwa2: “gtbank stop illegal deductions in my account for ever reason you do it for. Am s struggling Nigerian that just want to survive like you. How can you send me a debit alert of 15naira but one thaousand will disappear from my account untraceable. Pls stop it or i will get a lawyer“

@iamMista_jay: “I got a ₦93 reversal for “excess SMS VAT CHARGE” from gtbank today. I’ve always questioned those deductions, but one day I will challenge them.“

@Williamstanko3: “Yesterday I was just sitting down when ZenithBank send me a debit telling me that it was ATM maintenance fees for a card that I’ve never used for the past 6 months or so yet they charged“

@Kemmystars: “gtbank charging N1,135 on a saving account with an inflow of less than N80,000 in the month of March 2025 is what I do not understand after deducting VAT, commission and others on every transaction is scary. The next time it happen, I will close the account.“

@GabTestament: “I stopped using GTBank for main transactions after debiting me 15k and 5k respectively as SMS charge.“

@awelekanma: “Its unfair. After deducting transfer charges, they will also deduct sms charges month end. ZenithBank why?? Why multi charge?“

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Many experts believe that clearer policies and better oversight are necessary to ensure that customers are not exploited.

Some financial analysts have suggested that banks should offer more transparency by providing detailed breakdowns of charges and improving customer communication.

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