Bank Customers Demand Urgent Action Amid Ongoing Network Failures

Customers of various banks across the country have expressed frustration over persistent online network failures affecting financial institutions.

Speaking to the News Agency of Nigeria in Abuja on Thursday, several customers described the situation as increasingly worrisome and disruptive.

Mrs. Bukola Attah, a Guaranty Trust Bank (GTB) customer, reported that online transactions have been unreliable, severely impacting businesses. She recounted a troubling incident where an online transfer from her GTB account to a FirstBank Plc customer resulted in the beneficiary being assigned an account at GTB without their consent.

“I transferred N50,000 to my friend’s First Bank account, but instead of seeing the money in her account, she received a notification from GTWorld about a new account opened in her name at GTB. This seems like an underhanded way to acquire more customers, and it’s unacceptable. We should have the right to choose our banking services,” she said.

Ms. Nkechi Udeke, a Sterling Bank customer, noted that network issues have persisted since September. “I haven’t received credit or debit alerts, leading to significant losses in my business. Customers think their payments are successful based on alerts, but the funds don’t reflect in my account, causing major issues,” she explained.

Mr. Philip Solomon, an Access Bank customer, called on the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to enhance regulatory oversight. He questioned how multiple banks, including Tier 1 institutions, could experience simultaneous network problems.

Mrs. Blessing Alinta, a civil servant and Zenith Bank customer, shared her frustrations regarding a prolonged system upgrade that delayed her September salary. She urged the bank to ensure its systems function effectively to avoid further disruptions.

Mr. Babangida Yakubu, a customer of First City Monument Bank (FCMB), echoed similar concerns, stating that unstable networks have hindered his ability to pay utility bills and conduct other transactions.

In response, GTB announced on its social media platform that it would transition to a new and improved Finacle Core Banking Application System. All branches will close early at noon on Friday, October 11, and will reopen at 9 a.m. on Monday, October 14. Customers are encouraged to use digital channels during this period, although there will be no service from 10 p.m. on Sunday, October 13, until 9 a.m. on Monday, October 14.

Zenith Bank also apologized for the disruptions, attributing them to an IT upgrade intended to enhance service quality. The bank assured customers that significant progress has been made, allowing for smoother transactions.

Meanwhile, the CBN reassured the public not to panic, emphasizing that policies are in place to safeguard all funds deposited in financial institutions nationwide. In a statement, the Acting Director of Corporate Communications, Hakama Ali, reaffirmed the CBN’s commitment to maintaining the stability and reliability of the Nigerian financial system.

Gathered By: Praise Inalegwu

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