Unstable banks’ network: Businesses, customers want compensation for losses

Many customers of various banks have called on the financial institutions to pay them compensation for their losses incurred due to unstable online network.

The customers who spoke to the newsmen in Abuja on Wednesday, said they lost millions of naira due to their inability to perform their online business transactions promptly.

Mr Gbenga Akintoye, a customer of Guaranty Trust Bank (GTB), said the bank’s poor online services even after their upgrade caused his family to be disgraced and humiliated.

”My wife and children went to Silverbird Galleria in Abuja to buy somethings and to have fun.

”I told my wife that I will transfer some money to her account before they got to the place.

”On getting to Silverbird, she called me and I told her I was trying to make the transfer.

”The frustrating and embarrassing thing is that the transfer did not go through that day.

”Do you believe that my wife and children kept on going round the place without buying or having any fun.

”My wife and children were humiliated and frustrated; who pays for that ,” he said.

Another customer, Mrs Happiness Itua, a customer of GTB, said the bank’s poor network made her to incur a N5,000 fine for delaying the payment of one of her contributions.

Itua called on the bank to pay her back equivalent of the fine as compensation as the fault was theirs. PP

”I usually pay for my contribution as soon as I receive my salary but this time around, I was not able to pay early because of GT bank issues.

”Due to the fact that so many people default in payment, a rule was made that after one week of salary payment, a person yet to pay will pay a fine.

”I became a victim of the fine because my bank app was not working. GTB should pay me my money,” she said.

Mrs Amina Babangida, a customer of Zenith Bank and frozen foods trader, said the bank’s poor network during its upgrade, had not been stable as it had made it difficult for her to pay her utility bill.

Babangida said the development affected her business as some of the frozen foods got spoilt and wasted.

Ms Nkechi Udeke, another customer of Sterling Bank said the bank’s network had been fluctuating since September.

”Since the beginning of September, the bank has been having network issues. You don’t 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 in your account balance,” she said.

Prof Uche Uwaleke, the former Chairman of the Chartered Institute of Bankers of Nigeria (CIBN), FCT Chapter, said the customers who incurred losses deserved to be compensated.

Uwaleke, also a financial expert said ”i think they deserve to be compensated as long as it can be established that losses suffered are financial in nature.

”Also, that the losses were as a result of failure of transactions during any period exceeding the initial period communicated in advance by the bank to its customers.”

The Central Bank of Nigeria (CBN) had advised customers to lay their complaints to the deposit money banks and give them at least two weeks to resolve the issues, failure of which it would intervene.

“If after lodging your complaint and your bank still fails to engage you and resolve the complaint within two weeks, you have the right to escalate your complaint to the Consumer Protection Department (CPD) of the CBN.

“Customers can contact the CPD by sending an email to cpd@cbn.gov.ng, contactcbn@cbn.gov.ng or call +234 7002255226.

”Customers can lodge a complaint directly on the CBN website,” it said.

A banker who pleaded anonymity regretted the losses incurred by customers.

The banker however, said the network upgrade was to help protect customers’ monies.