The House of Representatives has requested that the Central Bank of Nigeria (CBN) direct all commercial banks to quickly upgrade their online/electronic banking platforms for efficiency and ease of use.
At Thursday’s plenary in Abuja, Hon. Sergius Ose-Ogun from Edo state moved the proposal at plenary. Speaker Femi Gbajabiamila approved the motion.
After the Central Bank of Nigeria’s naira redesign and cash withdrawal limit policy, online and mobile banking have increased nationwide.
The lawmaker noted that Nigerians’ use of online or internet banking services in the past three months has been plagued by issues like failed electronic bank payments, POS service failure, and others.
He said that Nigerians have suffered greatly in the past three months due to the ineffectiveness or difficulty of using internet banking services on most commercial banks’ web platforms.
Hon. Ogun voiced worry that if the CBN and commercial banks do not address these issues, Nigerians will continue to endure untold hardships and loss of money due to failed electronic bank transactions.
The house ordered the finance and currency committee to comply and report back within four weeks for further legislative action.