The House of Representatives has taken decisive actions on two key issues affecting education and banking in Nigeria. The lawmakers directed the National Universities Commission (NUC) to immediately suspend the implementation of tuition fee hikes in federal universities. They also called for an investigation into the fee increases by federal universities to address the challenges in the tertiary education sector. Furthermore, the House instructed the Federal Ministry of Education to review the new school fees regime in Federal Government Colleges and revert to the previous fee structure.
In addition to the education-related resolutions, the House directed the Central Bank of Nigeria (CBN) to halt the implementation of the Know Your Customer (KYC) policy that requires customers to link their social media handles to their bank accounts. The lawmakers raised concerns about the directive’s infringement on citizens’ right to privacy, as stated in Section 37 of the 1999 Constitution (as amended). They argued that banks already possess sufficient customer information for identification and monitoring purposes, and alternative measures exist to combat money laundering and terrorism financing.
The House of Representatives emphasized the importance of accessible and affordable education for Nigerian students, urging the federal government to increase budgetary allocations to the education sector. Concerns were raised about the financial burden imposed on students and the potential consequences, including increased dropout rates and heightened social unrest.
Regarding the banking sector, the House expressed apprehension over the potential exclusion of Nigerians without social media handles, especially those in rural areas and the illiterate or semi-literate population. They highlighted the hardships that the directive may impose on these individuals and the need to consider alternative methods of monitoring financial activities.
These resolutions reflect the House of Representatives’ commitment to addressing critical issues affecting education and banking in Nigeria, with a focus on protecting citizens’ rights and ensuring inclusive access to services.