- Customers of various banks in the country have decried the consistent failure in the online network of financial institutions
- Mrs Bukola Attah, a customer of Guaranty Trust Bank (GTB), said that the bank’s online transactions had been constantly fluctuating, making it difficult for businesses to thrive
- The bank informed customers that all its branches nationwide would be closed early from noon on Friday, Oct. 11 to reopen at 9 a.m. on Monday, Oct. 14
Customers of various banks in the country have decried the consistent failure in the online network of financial institutions.
Some of the customers who spoke to the News Agency of Nigeria in Abuja on Thursday, October 10, said that the situation was becoming recurring, frustrating and worrisome.
Mrs Bukola Attah, a customer of Guaranty Trust Bank (GTB), said that the bank’s online transactions had been constantly fluctuating, making it difficult for businesses to thrive.
Attah said that the development could lead to instability in the system.
She also said that her online transfer from her GTB application to a FirstBank Plc customer turned out to be used to open an account for the beneficiary in GTB.
”I really do not understand what GTB is out to achieve by illegally opening an account for someone without his or her consent.
”I transferred N50,000 from my GTB account to my friend who has a First Bank account.
”The money left my account but it did not reflect in her account rather she got an alert from GTWorld telling her of the account in her name at GTB.
”Although an insider there said it is a way of getting more customers this is fraudulent.
”We are adults and we should be given our right to choose what we want,” she said.
Ms Nkechi Udeke, a customer of Sterling Bank said that the bank’s network had been fluctuating since September.
”Since the beginning of September, the bank has been having network issues. You do not receive credit or debit alerts.
”During this period, I lost a lot of money in my business because a customer will pay for items online and send his debit alert to you.
”Believing that the transaction is successful, you let him or her go with the goods but at the end, you will not receive the money, or it will not reflect on your account balance,” she said.
Philip Solomon, an Access Bank customer, appealed to the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to strengthen their regulatory mechanisms.
Solomon urged the two regulators to check and determine the state of the Nigerian banks.
According to him, why will all the banks, including Tier 1 stage banks be having network issues at the same time?
Also, Blessing Alinta, a Civil Servant, and a Zenith Bank customer, said that the bank had been doing an unending system upgrade for some weeks, a development that caused her to receive her September salary late.
Alinta appealed to the bank to ensure that the system worked effectively going forward to avoid the kind of frustration faced by customers during the upgrade.
Yakubu, a customer of First City Monument Bank (FCMB) said that the bank’s network had not been stable as it had made it difficult for him to pay his utility bills and transactions.
Meanwhile, GTB on its X said that the bank would begin the transition to a new and robust suite of Finacle Core Banking Application System.
The bank informed customers that all its branches nationwide would be closed early from noon on Friday, Oct. 11 to reopen at 9 a.m. on Monday, Oct. 14.
”During this period, we encourage you to take advantage of our secure and convenient digital channels for your banking needs.
”Please note that there will be no service on our digital channels for 11 hours specifically from 10 p.m. on Sunday, Oct. 13 till 9 a.m. on Monday, Oct. 14 as part of the transition process,” the bank said.
Also, Zenith Bank on its X apologised to its customers for the service disruptions experienced.
The bank said that the disruption was due to an Information Technology (IT) upgrade aimed at improving the quality of their services.
”We have made significant progress with the upgrade and you can now perform transactions conveniently.
Meanwhile, the CBN has assured Nigerians not to panic as it has put in place policies to ensure that all monies deposited in financial institutions across the country are secured.
A statement by the apex bank’s Acting Director, Corporate Communications, Hakama Ali on Tuesday, October 8, reassured the public of its unwavering commitment to ensuring the stability and reliability of the Nigerian financial system.
Unregistered PoS operators face shutdown, CAC warns, threatens legal action
Meanwhile, TheRadar earlier reported that the Corporate Affairs Commission (CAC) had issued a stern warning for unregistered PoS operators, including potential shutdowns and other legal consequences, following the expiration of its 60-day deadline on September 5.
In the public notice released on Friday, September 6, the Commission noted a low level of compliance with its registration directive and raised concerns that those who do not register could be involved in “unwholesome activities.”
