Business Economy

CBN Gov. Apologises to Nigerians For Failed Electronic Transactions

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has apologised to Nigerians for the rise in failed electronic banking transactions since the implementation of the Naira redesign policy.

Speaking at an event in Abuja on Tuesday, March 21, Emefiele said the apex’s bank payments system management department made efforts to ensure that downtime on electronic banking channels were quickly resolved.

“I must apologise. Yes, online channels fail. But no doubt it is as a result of the deluge of online transactions that hit the banking industry. But it is being resolved.

On a daily basis, our payments system management department monitor the online payment platforms so as to make sure that when there is a downtime, they are quickly resolved so that transactions can go on smoothly,” he said.

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