The House of Representatives yesterday asked the Central Bank of Nigeria (CBN), to direct all commercial banks to urgently overhaul their existing online/electronic banking platforms for efficiency and ease electronic banking operations.
The House passed the resolution in Abuja during its plenary presided over by the Speaker of the House, Femi Gbajabiamila.
The resolution was passed sequel to a motion moved by a member from Edo State, Sergius Ose-Ogun at plenary, saying the online platforms are not able to cope with the surge in transactions following the recent CBN naira redesign and cash withdrawal limit policy.
He said: “In the wake of the recent naira redesign and cash withdrawal limit policy of the Central Bank of Nigeria, there has been an increase in the use of online and electronic banking services to carry out monetary transactions across the country.
“The use of online or internet banking services by Nigerians in the past three months or thereabout has been characterised by varying degrees of hitches ranging from unsuccessful electronic bank transfers, point of sale (POS) service failure and a host of others.
“The ineffectiveness or difficulty in using internet banking services across the online banking platforms of most commercial banks in Nigeria has brought untold hardship, suffering and difficulties on Nigerians in the past three months.”
Ogun also noted that “If nothing is done by the Central Bank of Nigeria and the Commercial Banks to address these difficulties or ineffectiveness, Nigerians will continue to suffer untold hardships and loss of monies to unsuccessful electronic bank transactions.”
Upon the adoption of the motion, the House mandated its Committee on Banking and Currency to ensure compliance and report back to the house within four weeks for further legislative action.
The ineffectiveness or difficulty in using internet banking services across the online banking platforms of most commercial banks in Nigeria has brought untold hardship, suffering and difficulties on Nigerians in the past three months.
