Nigerians who do online banking before the tight implementation of the cashless policy will tell you stories of betters days in the past. They hardly had failed transactions.
Unfortunately, you have been forced to adopt online banking, but the difficulty you go through is making the whole thing uninteresting.
Is the Central Bank watching while this pain scales up its hold on the banking system?
Could it be that the central bank was not aware of the capacity of the infrastructure on ground? All of these questions are running through people’s mind.
Well, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is not leaving you alone in your boat of failed transactions.
He spoke about this your issue and the reasons it is happening on Wednesday while briefing journalists.
Also, he gave a hint of the things that the CBN is doing.
You see, when you decided to join people who do electronic banking transactions, other persons also made that decision.
That your decision contributed to the problem that you are now having.
Emefiele says after you and others joined, requests were pouring in like rain from many people.
You know that your country is very populated and most times the infrastructure is not enough to serve that population.
As a result, Emefiele claims that the CBN’s bank payments system management department made efforts to ensure that downtime on electronic banking channels are addressed.
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He also has reasons to apologise to Nigerians.
Emefiele Addresses Failed Transactions
“We must apologise. Yes, online channels fail. But no doubt it is as a result of the deluge of the volume of online transactions that hit the banking industry.
“But I think it is currently being resolved,” Emefiele said.
“On a daily basis, our payments system management department monitor the online payment platforms.
“The reason is to make sure that when there is a downtime, they are quickly resolved so that transactions can go on smoothly,” he said.
He, however, did not say when the challenge of failed transactions will stop.
