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Transfers Gone Missing: Nigeria’s frustrating digital bank transactions
Zulaiha Danjuma
Imagine expecting to receive payment for the goods you sold to a customer only to find that the significant amount of money never reached your bank account. For Malam Haruna Yau, a palm oil vendor in Kano State, Nigeria, this nightmare became a reality.
KANO FOCUS reports that, despite his initial skepticism about adopting electronic bank payments for his business, Haruna decided to open a bank account to receive payments from his customers.
However, he soon faced numerous challenges with vanishing funds due to network glitches causing discrepancies between customer transactions and his received payments.
“The major problem we have is the unpredictable network issues, which can be quite frustrating when trying to receive payments from customers,” Haruna explained. “Because of these network issues, we find ourselves going back and forth with customers on payments they say they made, which don’t reflect in my account. And in some cases, the money shows up much later.”
Malam Haruna Yau
One specific challenge Haruna faced was when he lost ₦19,000 due to network issues. “Just last week, I lost about ₦19,000. A lot of customers sent me money, but I didn’t receive the payments, even my neighbor selling next to me sent me some money, same thing,” Haruna said.
Haruna added, that this was one of the reservation he had about bank transfers but he knew he could not escape using the bank for his business due to the raise of technological advancement
He went further to explain that there are a lot of small vendors who still resist having bank accounts due to the fear of vanishing bank transfers
“It’s discouraging for vendors who are not banked hearing those of us who opened bank accounts complaining of our monies vanishing within banks” he said
Hajiya Rabi’a, a women’s clothing vendor, shared a similar story. She sent ₦5,000 to her brother on two separate occasions, but the funds never reached him.
“I thought it was a one-off issue, but when it happened again, I was shocked,” Rabi’a said. “I had to pay that money thrice.” She lamented.
According to industry players, the issues with vanishing interbank instant transfers often originate from the deposit banks themselves. The Central Bank of Nigeria (CBN) has implemented measures to address these challenges, including the Industry Dispute Resolution Platform.
“The CBN has been working tirelessly to address the challenges faced by customers,” said an industry expert. “The Industry Dispute Resolution Platform is a significant step towards resolving disputes and improving the overall customer experience.”
The CBN has also directed deposit money banks to resolve instant interbank disputes within three working days. Customers have the right to report any issues to the CBN and fill out a complaint form.
In addition, the CBN’s regulation on Instant Electronic Funds Transfers (EFT services) states that all instant interbank EFTs should take place within 1 minute (60 seconds). However, despite this protocol, deposit money banks have been seen falling short of upholding this right to customers.
According to data from the Nigerian Inter-Bank Settlement System (NIBSS), the volume of instant interbank transfers has increased significantly over the past year, with over 10 million transactions valued at over ₦10 trillion.
However, the same data also shows that the number of disputes and complaints related to untraceable funds has also increased, with over 10,000 complaints received by the CBN in the past quarter alone.
The impact of untraceable funds on individuals and businesses cannot be overstated. For Haruna, the loss of ₦19,000 was a significant blow to his business. “It’s not just about the money; it’s about the trust and confidence that customers have in the banking system,” Haruna said.
To address these challenges, the CBN has launched the Industry Dispute Resolution Platform, which is strictly for card and POS transactions. Banks have been mandated to report any single dispute to the platform.
“All banks are under obligation to report their dispute on the Industry Dispute Resolution System (IDRS) platform. This took off three months ago, so hopefully, customers should expect better services,” an industry source said.
While electronic bank payments offer convenience and efficiency, the challenges with vanishing funds cannot be ignored. As the CBN continues to work towards resolving these issues, customers must be aware of their rights and the measures in place to protect them.
_*To protect themselves from vanishing funds, customers can take the following steps:*_
– First, verify transactions with their banks
– Report any issue of bank non compliance to resolving the issue; by filling out a CBN complaint form about the banks non compliance
By taking these steps, customers can help ensure that their transactions are secure and that they receive the funds they are owed.
In the words of Haruna, “I believe that electronic bank payments are the future, but we need to address the challenges that come with it. As customers, we need our banking institutions to do better to serve us properly and protect our funds”.
_*This story is produced under the Digital Public Infrastructure (DPI) Fellowship of the Media Foundation for West Africa (MFWA) and Co-Develop in partnership with Kano Focus Newspaper online*_
Ibrahim Khalil
The Federal Government has approved the construction of a ₦1 trillion Kano Metropolitan Rail Service in a move aimed at transforming urban transportation, boosting economic activities and easing traffic congestion across the state capital.
KANO FOCUS reports that the approval was disclosed by Kano State Governor, Alhaji Abba Kabir Yusuf, while addressing the state contingent that participated in the 2025 National Qur’anic Recitation Competition held in Borno State.
The development was contained in a statement signed on Wednesday by the Governor’s spokesperson, Sunusi Bature Dawakin Tofa.
According to the statement, Governor Yusuf explained that his administration’s decision to realign with the Federal Government under the All Progressives Congress (APC) was informed by the need to attract critical development projects to Kano State.
He said the proposed Kano Metropolitan Rail Service would provide a modern, efficient and affordable mass transit system capable of connecting key districts within the metropolis, improving mobility for residents and stimulating trade and investment.
The Governor described the rail project as a landmark intervention that would significantly improve the quality of life of the people and reposition Kano as a major transportation hub in Northern Nigeria.
He assured that the Kano State Government would work closely with relevant federal agencies to ensure smooth implementation of the project, transparency in execution and maximum benefits for the people of the state.
Governor Yusuf also expressed appreciation to the Federal Government for approving the project and reaffirmed his administration’s commitment to complement federal efforts through supportive policies and infrastructure development.
Nasiru Yusuf Ibrahim
Kano State Governor, Alhaji Abba Kabir Yusuf, has honoured the overall winner of the National Qur’anic Recitation Competition (Musabaqa), Hafsat Muhammad Sada, with a Hajj slot for her and her mother, a foreign scholarship, a plot of land and a cash reward.
KANO FOCUS reports that the competition, which recently concluded in Borno State, saw Kano State emerge prominently, with several participants excelling in different recitation categories.
Governor Yusuf also approved the allocation of plots of land and cash rewards to other Kano indigenes who emerged winners in various categories at the national competition.
Alhaji Abba Kabir Yusuf
The gesture was disclosed in a statement signed by the Governor’s spokesperson, Sunusi Bature Dawakin Tofa, on Wednesday.
According to the statement, the beneficiaries, who represented Kano State at the competition, were received by the Governor at the Government House, Kano, where he commended them for bringing honour and pride to the state.
Governor Yusuf described their achievement as a clear reflection of Kano State’s rich Islamic heritage and its long-standing commitment to the promotion of Islamic education and moral values.
He reaffirmed his administration’s resolve to continue supporting Qur’anic schools, Islamic scholars and faith-based initiatives aimed at producing morally upright and intellectually sound citizens.
In separate remarks, the Chairman of the Musabaqa Board of Trustees, Sheikh Shehi Shehi Mai Hula, and the Dan Amar of Kano and District Head of Gobirawa, Alhaji Aliyu Harazimi Umar, who represented the Emir of Kano, congratulated the Governor and the people of the state for what they described as an unprecedented achievement.
They expressed optimism that Kano State would record even more successes in future Qur’anic recitation competitions, given the commitment of all stakeholders to sustaining the current momentum.
Hafsat Muhammad Sada
Speaking on behalf of the awardees, the mother of Hafsat Muhammad Sada thanked Governor Yusuf for the recognition and support, describing the gesture as a morale booster that would encourage more youths to embrace Qur’anic studies and strive for excellence.
Nasiru Yusuf Ibrahim
The Kano State Government has dismissed reports suggesting that recent political defections have weakened the administration of Governor Abba Kabir Yusuf, describing such claims as misleading and deliberately designed to distort facts.
KANO FOCUS reports that Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, stated this in a press statement issued on Thursday, saying that commissioners heading critical and strategic ministries of government remain firmly loyal to the governor.
According to Waiya, governance is driven by structure, policy, and institutional control rather than propaganda or political speculation. He stressed that the ministries responsible for policy formulation, implementation, and service delivery are fully intact and functioning under the leadership of Governor Yusuf.
He listed the key ministries to include Education, Health, Works, Finance and Economic Planning, Planning and Budget, Information and Internal Affairs, Justice, Local Government and Chieftaincy Affairs, Agriculture, Water Resources, Environment and Climate Change, Transport, Power and Renewable Energy, Housing Development, Rural and Community Development, as well as Procurement and Monitoring.
“These ministries represent the true levers of governance where decisions are made and implemented,” the commissioner said, adding that control of these institutions signifies stability and continuity in government.
Waiya noted that the administration has not lost control of governance processes, insisting that policies are being formulated and implemented, projects are ongoing, the bureaucracy remains aligned, and the cabinet continues to function effectively as the highest policy-making body of the state.
He cautioned critics against confusing political drama with authority, saying that while political movements may attract media attention, governance responds only to legality, structure, and institutional control.
The commissioner further maintained that the Yusuf administration remains focused and undistracted by political developments, stressing that the governor continues to govern effectively and strategically.
He urged detractors to accept the reality on ground and engage in constructive public discourse rather than spreading misinformation capable of misleading the public.
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