AFTER SYSTEM UPGRADES…Bank Customers Lament Persistent Failed Transactions

Bank customers are reportedly groaning under the strain of numerous failed transactions within the banking system.

While some unresolved issues persist, customers who have successfully resolved their cases claim they often had to lodge the same complaint multiple times before achieving a reversal.

Affected customers who spoke to LEADERSHIP yesterday called on banks to improve customer service delivery, lamenting that complaints were rarely attended to promptly. They argued this trend was prevalent across all central banks in the country.

LEADERSHIP’s investigations across banks in the Lagos and Ogun state metropolises yesterday revealed that 50 to 60 per cent of customers physically present in banking halls were there to lodge complaints about transaction issues.

Experts have attributed the recent surge in failed transactions to ongoing upgrades to banking apps and software systems undertaken by central commercial banks in the country.

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Consequently, findings indicate that it often takes weeks—and, in some cases, months—to resolve failed transactions.

For instance, Ogunbowale Roqib, a Lagos resident, recounted initiating a transaction worth ₦2 million to restock his shop. His account was debited, yet the beneficiary did not receive the money and subsequently refused to release the goods.

For three weeks, Ogunbowale repeatedly visited the bank to lodge complaints. On each occasion, he was assured the issue would be resolved within five working days—an assurance that proved false until his third attempt. By then, his business had already suffered significant setbacks, as he lacked funds to restock until the reversal was processed.

Another victim, Miss Blessing Oluwa Damilola, a National Youth Service Corps (NYSC) member, expressed her frustration:

“I transferred money to my friend. She later called to say she hadn’t received it, even though I got an email confirming the debit from my account. I went to the bank and complained to customer service, who said it was a technical issue that would be resolved within five working days.

“I then tried to withdraw cash from a Point of Sale (PoS) outlet, but the transaction was declined. The following day, I received a message from the bank and noticed I’d been debited again for the same transaction.”

Similarly, Mr Edwin Aondofa, another dissatisfied customer, shared his experience:
“When I made a complaint, the bank’s response was, ‘We are working with the relevant party to resolve the issue within three to four working days.’”

For Bunmi Omisaki, transportation costs added to the ordeal.

He said: “I tried transferring money to my brother, but the transaction failed. I’ve been coming to the bank for three days to resolve it, but they keep telling me they’re working on it. I’ve already spent so much on transport. Only God can deliver me from this.”

Efforts to obtain reactions from bank representatives proved unsuccessful, as messages sent to the spokespersons of about ten banks remained unanswered at the time of filing this report.