Kaduna Assembly To Probe 'Wonder' Banks

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Kaduna State House of Assembly on Thursday resolved to investigate the proliferation of ‘wonder’ banks and unregistered financial institutions in the state.

The assembly, after considering a motion by the Majority Leader, Mr David Umaru, said it would discuss the matter at an executive session.

Umaru had noted that the proliferation of ‘wonder’ banks in the state was alarming and required the quick intervention of the Assembly.

He accused such financial houses of “robbing citizens of their hard earned money.”

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The lawmaker said there was need to control the rate at which the banks were springing up, especially in the southern part of the state.

He mentioned some of the areas to include Jama’a and Kachia local governments, adding that the House needed to launch a full scale investigation.

The majority leader said the State Security Council had already received complaints on the operation of the banks.

The House after considering contributions from Mr Kantiok Irimiya, member representing Zonkwa constituency and the Minority Leader, Alhaji Shehu Usman resolved to meet at an executive session to consider the issue.

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