Reps Call For Overhaul Of Electronic Banking Platforms
Reps Call For Overhaul Of Electronic Banking Platforms

The House of Representatives has called on  the Central Bank of Nigeria, CBN to direct all Commercial Banks to immediately overhaul their existing online and Electronic banking platforms for efficiency and ease of conducting electronic banking operations.

This resolution follows a motion by the Member representing Esan North and South Federal Constituency of Edo State ,Hon  Sergius Ogun during House plenary on Thursday.

The lawmaker observed that there has been an increase in the use of online and electronic banking services for monetary transactions across the country in the wake of the recent naira redesign and cash withdrawal limit policy by the Central Bank of Nigeria.

He also noted that the use of online or internet banking services by Nigerians in the past months has been characterized by varying degrees of hitches ranging from unsuccessful electronic bank transfers, point of sale, POS service failure and a host of others.

The House adopted the motion and further mandated the House committee on Banking and Currency to ensure compliance and report back within four weeks for further legislative action
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