The House made the resolution following a motion sponsored by nine members.
The CBN had released its Customer Due Diligence Regulations 2023, noting that the inclusion of social media handles on “Know Your Customer” would stir up compliance with anti-money laundering and counter-terrorism financing provisions.
However, the House was worried that if the directive takes effect, Nigerians, who are not on social media with large turnovers from their businesses and trades, would be systematically excluded from formal banking systems.
Meanwhile, the House said it would investigate the issue of excess charges and illegal deductions by commercial banks in the country.
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