Reps direct CBN to overhaul electronic banking platforms

Reps direct CBN to overhaul electronic banking platforms

The House of Representatives has urged the Central Bank of Nigeria (CBN), to direct all Commercial Banks in the country to immediately overhaul their existing online/electronic banking platforms to ease electronic banking operations.

This was sequel to a motion by a member from Edo state, Mr Sergius Ogun at plenary…..CONTINUE READING

Mr Ogun stated that there has been an increase in the use of online and electronic banking services across the country in the wake of the recent naira redesign and cash withdrawal limit policy of the Central Bank of Nigeria.

The lawmaker however, noted that the use of online or internet banking services in the past

three months has been characterized by varying degrees of hitches.

According to him, 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 on Nigerians in the past three months.

Adopting the motion, the house mandated the committee on banking and Currency to ensure compliance and report back to the house within four weeks for further legislative action.

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