Banks keep mum as nationwide network failure lingers
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Since Monday this week, and as far back as a month ago, banking premises around Lagos, Abuja, Port Harcourt and several cities nationwide, were filled with complaints by customers who were unable to conduct digital transactions.
Many of the customers queued to file complaints about malfunctioning apps, failed transactions, wrong debits and even outright failure to log into several banks’ internet banking platforms due to poor networks.
The network crisis in the sector which spread across the Tier-1 banks, was also witnessed in many Tier-2 banks, otherwise known as smaller banks.
Inquiries by The Nation showed that the nationwide network failure also extended to failure to fully use Point of Sale (PoS) machines, Automated Teller Machines (ATMs), to almost all e-channels.
Website of one of the five Tier-1 banks completely shut down yesterday, leaving its customers in disarray.
As the situation escalated, many customers avoided e-payment channels, relying solely on cash to pay business associates and customers.
Many of the banks contacted were not forthcoming with answers to the several questions from their numerous customers.
One Tier-2 bank which switched from foreign to local app, it was gathered was trying to cut costs associated with forex and naira depreciation. The bank informed staff that the foreign app was too costly for its survival and sustainability.
One staff in a Tier-1 bank, who spoke anonymously, said the bank’s management already held an emergency meeting on the development and agreed on investing more on technology.
“We understand that the fallout of the meeting was that a good part of the bank’s profit will go into infrastructure for the bank, top of which is technology. I do not have the details of what that means, but it will boil down to acquiring new software and apps that support digital banking,” the source said.
Abiodun Stevens, who has account in one of the Tier-1 bank said he lost over N200,000 because a customer was unable to pay for goods he bought.
“The customer promised to send thee money when network improves, but he is no longer picking my calls,” he said.
Another bank customer, Chima Obiora, said he could not complete simple transaction using his bank app, prompting him to travel for over three hours to a nearby branch of the bank.
“It cost me money and time to get to the bank’s branch, and then I waiting for another two hours for the transactions to be done within the bank. Its very unfortunate that banks can’t give us quality services despite the huge profits they claim to be making,” he said.
Also speaking, the Chairman, the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, said the network operators have nothing to do with the situation with the network failures in the banks.
He said: “. We provide them the transport access to deliver on their infrastructure. Once you get on the infrastructure, our job is done and we cannot be blamed for any hitches.
We have no control over what you experience in the banks”.
“And I can assure you that if this was the problem of somebody else, the banks will be very quick to say in the last 24 hours that this problem doesn’t belong to them. So, the fact that they are quiet, is an admittance of that the problem is the from their infrastructure and not from network operators, And until they come to say this is the nature of the problem, we don’t know even what assistance they require”.
Adebayo asked the banks to tell the customers, what has happened. “I have not been able to make payments through several banks’ channels today. The banks platforms are not working. I don’t get any explanation from anyone, and as a customer of the bank myself, I deserve to know what’s going on,” he added.
A telecoms expert, Michael Adigun, wondered how long Nigerian bank customers would continue to suffer.
“What really is the offence of the customers for keeping their funds with banks? They are not asking for too much. What hey want is to be able to do simple transactions and have a secured financial system,” he said.
He however, said some network failures in banks could be linked to poor functional apps, or cut in fire cuts.
“On the issue of quality of service, there’s been a massive spike in fiber cuts in some cities across the country because of road construction. Some are unintended but most are a result of sabotage, but whatever it is, should be handled effectively by the banks to sustain services quality,” he said.
Banks keep mum as nationwide network failure lingers - The Nation Newspaper (thenationonlineng.net)
