Bank customers in Ibadan have expressed frustration over bank network failures, saying repeated disruptions have delayed transfers and affected their businesses.
Several customers shared their experiences in separate interviews with the News Agency of Nigeria (NAN) in Ibadan on Saturday.
Bank network failures affect businesses
Some customers said the disruptions became noticeable during the week and affected payments between buyers and sellers.
Korede Ogundele, an electronics dealer in Bashorun, said delayed bank transfers had created uncomfortable situations for traders and their customers.
He explained that sellers sometimes became suspicious when payment alerts failed to arrive quickly. Customers, in turn, had to wait until their transactions were confirmed before completing purchases.
Another businessman, Mayowa Oluyinka, said the situation had affected his business and caused financial losses.
Oluyinka said he went to a bank branch hoping to complete his transaction there, only to encounter the same network problem.
He expressed hope that the situation would improve soon so businesses could operate without repeated payment delays.
Customers turn to cash payments
Samson Ayodele, who sells food items, said the problem had made everyday transactions more difficult.
According to him, sellers now face a difficult choice when electronic payments fail. They either risk releasing goods while waiting for payment or lose the sale altogether.
A NAN correspondent also observed customers seeking to make transfers at Kunle Ara Pharmacy being asked to pay with cash.
One customer said even POS operators around the pharmacy had run out of cash. This made it difficult for people who needed to buy medicines.
The customers called for improvements in banking services to reduce transaction delays and rebuild confidence in electronic payments.
Banks face network challenges
A bank officer who spoke anonymously confirmed that the bank network failures were affecting customers across several banks.
The officer said some banks had invested heavily in technology to improve transaction processing, while others still faced infrastructure challenges.
According to the officer, transfers between accounts in the same bank were working in some cases. Some transactions involving fintech platforms were also going through.
However, the officer said broader network problems could still affect fintech transactions at times.
The officer also pointed to challenges involving the Nigerian Interbank Settlement System (NIBSS), including difficulties verifying customers’ Bank Verification Numbers (BVN).
The officer said stronger investment in banking infrastructure would help improve transaction processing and reduce disruptions.