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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
Residents of Tsakuwa community in Dawakin Kudu Local Government Area of Kano State have honoured 11 individuals for their outstanding contributions to the development of the town.
KANO FOCUS reports that the awards were presented during the 6th Annual General Meeting (AGM) of the Tsakuwa Mufarka Sustainable Development Association, held on Sunday at Central Primary School, Tsakuwa.
Among those honoured were the traditional ruler of the community, Sarkin Tsakuwa, Alhaji Isma’ila Santali Tsakuwa; the Chairman of the Tsakuwa Mufarka Sustainable Development Association, Alhaji Tasiu Alhassan Tsakuwa; and a retired headmaster of Central Primary School, Tsakuwa, Alhaji Mahmuda Shehu, who continues to offer voluntary teaching services to pupils in the community.
Also recognised was Alhaji Umar Muhammad Banupe, a Nupe businessman who settled in Tsakuwa and has become an integral part of the community. He was honoured for his significant contributions to the town’s development.
Alhaji Umar Muhammad Banupe receiving a certificate
Other award recipients included the Chairman of the Northwest Development Commission, Professor Shehu Abdullahi Ma’aji (Garkuwan Tsakuwa); the Commander of the Gombe State Hisbah Command, Malam Rabiu Idris; media practitioner Nasiru Yusuf Ibrahim of Abubakar Rimi Television Corporation (ARTV); the founder of Tsakuwa Mufarka Sustainable Development Association, Malam Ibrahim Almustapha Sani; and Sulaiman Salisu Babah, among others.
Alhaji Tasiu Alhassan presenting a certificate to Nasiru Yusuf Ibrahim
Speaking at the event, the Sarkin Tsakuwa, Alhaji Isma’ila Santali Tsakuwa, commended the leadership of the association for its commitment to community development and urged members to sustain their efforts toward improving the welfare of residents.
In his remarks, the Chairman of the association, Alhaji Tasiu Alhassan Tsakuwa, said the non-partisan organisation had prioritised interventions in education, security, and healthcare.
He appealed to members of the community to sustain their monthly financial contributions to enable the association to continue implementing development projects.
Earlier, a member of the association, Malam Abdullahi Wagadi, disclosed that the group generated ₦6.56 million through members’ monthly contributions over the past year.
According to him, the association spent ₦3.84 million on allowances for volunteer teachers and vigilantes, ₦564,000 on fencing the Eid prayer ground, and ₦1.255 million on the renovation of the community police outpost.
He further stated that ₦356,000 was spent on supporting Tsakuwa Model Primary School, ₦430,000 on scholarships for students, ₦700,000 on instructional materials, and ₦50,000 on health assistance for vulnerable residents.
Association Raises Over ₦2.1 Million at AGM
A major highlight of the AGM was the fundraising session, during which the association raised ₦2.143 million from philanthropists and community stakeholders.
Leading the donations was Alhaji Umar Muhammad Banupe, who contributed ₦500,000. He was followed by Hon. Mustapha Bala Dawaki, who also donated ₦500,000, while Hon. Abdulmumin Tijjani, popularly known as Mai POS, donated ₦200,000.
Other donors included the Sarkin Tsakuwa, Alhaji Isma’ila Santali Tsakuwa, who donated ₦100,000; the association’s chairman, Alhaji Tasiu Alhassan Tsakuwa, ₦200,000; Professor Shehu Abdullahi Ma’aji Garkuwan Tsakuwa), ₦100,000; and Malam Rabiu Idris, who also contributed ₦100,000.
The event attracted community leaders, stakeholders, and residents who commended the association for its contributions to grassroots development and pledged continued support for its programmes.
Nasiru Yusuf Ibrahim
Health journalists in Kano State have inaugurated a new professional body, the Kano Health Journalists Network (KAHJON), aimed at strengthening media reporting and advocacy on Reproductive, Maternal, Newborn, Child and Adolescent Health (RMNCAH) and Primary Health Care (PHC).
KANO FOCUS reports that the network was launched during an Alignment, Coordination, Monitoring and Implementation meeting of media coalitions on gender-responsive RMNCAH and PHC, organised by the International Society of Media in Public Health (ISMPH) in Kano.
During the inauguration, journalists unanimously elected Khadijah Aliyu of Radio Nigeria as Chairperson of the newly established network.
Other members of the executive committee include Mustapha Hodi Adamu of People Daily Newspaper as Vice Chairperson, Abdullahi Hassan of ARTV as Secretary, and Mustapha Salisu of Prime Times as Public Relations Officer.
Speaking at the event, the Programme Director of ISMPH, Mr. Solomon Dogo, said the establishment of KAHJON would help unify existing health reporting groups and improve media coverage of critical public health issues, including polio eradication, nutrition, maternal health, and primary healthcare services.
He congratulated the newly elected executives and expressed confidence that the network would enhance collaboration among media practitioners while strengthening health advocacy efforts in the state.
Dogo noted that similar health journalists’ networks are already operating in Lagos and Kaduna states, adding that development partners remain committed to supporting initiatives that promote public health advocacy.
Also speaking, ISMPH Programme Officer in Kano, Hajiya Sabuwa Yahaya, said the platform would improve coordination among journalists, enhance access to health information, and strengthen evidence-based reporting on health issues.
According to her, the network will also provide a stronger platform for advocacy and engagement with government institutions, development partners, and local communities.
The inauguration ceremony attracted goodwill messages from several development partners, including the Integrated Budget and Policy (IBP), LISDEL, CCSI, SANDHEF, and the Clinton Health Access Initiative (CHAI).
Representatives of the Kano State Ministry of Health, the Drug Management and Consumables Supply Agency, and the Kano State Contributory Healthcare Management Agency also attended the event.
A major highlight of the ceremony was the signing of a Memorandum of Understanding (MoU), which formally established the Kano Health Journalists Network and marked the beginning of a new chapter in health journalism and advocacy in the state.
Nasiru Yusuf Ibrahim
A House of Representatives aspirant for the Kura/Madobi/Garun Malam Federal Constituency under the National Democratic Congress (NDC), Alhaji Mahmud Tijjani Kura, has withdrawn his candidature and defected to the All Progressives Congress (APC).
KANO FOCUS reports that the development was disclosed on Saturday by a prominent APC chieftain, Alhaji Aliyu Lawan Dambatta, popularly known as Majidadin Dambatta.
According to Majidadin Dambatta, he led a delegation alongside the former aspirant to a meeting with Governor Abba Kabir Yusuf, during which Kura formally announced his decision to join the APC.
Majidadin Dambatta described the defection as a significant boost to the ruling party, noting that it would further strengthen the APC’s unity and political structure ahead of future elections.
He said the party remained committed to working collectively for the progress and development of Kano State and the country.
The APC stalwart welcomed Kura back into the party and expressed confidence that he would make meaningful contributions to its growth and the welfare of the people.
The defection is expected to add a new dimension to the political landscape in Kano State as parties continue to realign ahead of future electoral contests.
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