Internet, Electronicbanking, Banking, Wacs, Bank’S, Businesses, Internet, Mtn

Internet, Electronicbanking

Network hitches linger as slow Internet impacts banking, businesses | The Guardian Nigeria News - Nigeria and World News

It appears there is no respite yet for consumers, especially those who make use of the Internet facility, as the service has remained at its lowest ebb

22.1.2020

The slow Internet service has made banking transactions difficult, especially across all electronic banking platforms. Internet ElectronicBanking Banking WACS

It appears there is no respite yet for consumers, especially those who make use of the Internet facility, as the service has remained at its lowest ebb

in the last five days, churning out very low speed. The slow Internet service has made banking transactions difficult, especially across all electronic banking platforms, including online, ATM, Instant Transfers, among others. The challenge, which was caused by damage to the submarine cable system, the West African Cable System (WACS) on the high seas in Europe, belonging to MTN, has made life a bit difficult for a large number of subscribers, who use the telecommunications network in Nigeria, and some West African countries. MTN is the largest operator in Nigeria with a 38 percent market share and about 67 million customers. Though Nigeria has about 123 million Internet users, the South African telecommunications firm has connected about 53 million people in the country to the Internet. Subscribers have been having hitches downloading and uploading content online, while bank customers to are faced with incomplete transaction processes. Investigations by The Guardian showed that various banking transactions, which rely on the Internet facilities have remained poorly-served in the last few days, and subsequently impacted financial transactions. Many bank customers, who tried doing instant transfers, using some USSD platforms belonging to some of the financial institutions found it very difficult, recording huge failure rates. The banking halls too have not been finding it easy, as crowd besieged some of the halls, which forced some banks to extend service hours beyond the normal time. For instance, GTB, in a text message to its customers on Monday, said it will extend its service hours. The message reads: “Dear Customer, we know you have experienced some inconvenience today using our banking channels. We sincerely apologise for the disruption in our service delivery to you, and we are extending banking hours at our branches till 6 pm today. Thank you for banking with us.” GTB however, sent a text yesterday informing the customers that its banking services have been restored. The text read: “All services on our banking channels have been restored. This means that normal service levels have been restored and you can now access all our banking services – online, via *737#, and in all our branches nationwide. “We sincerely apologise for every inconvenience you may have experienced as a result of the service disruption on our banking channels today.” But The Guardian checks as yesterday showed that transactions, across many banks, are still not as seamless as it used to be before the Internet slowdown. It could take about five hours, after repeated exercise before a transaction can go through. Speaking with The Guardian, Senior Manager, External Relations in MTN, Funso Aina, said if it is about the WACS cable system, “I can tell you that the matter has been resolved. That some banks are having issues may not necessarily have a link with the system. Some of the banks have been having issues long before the submarine cable challenge came up. But, from MTN end, we have resolved the matter. You also need to know that the cable in question is an international one. So, those challenges may not be from MTN.” A telecoms expert, Kehinde Aluko, however, said that it may take a week or two for services to come back fully. “Let’s believe MTN has fixed the challenge, but just like a wound, it will not heal the same day; it will take some process. The WACS cable was damaged, they have fixed it, but it will take some time for things to be restored back to normal.” Aluko also urged banks to upgrade their network facilities to be able to cater to the need of the banking customers. “We can’t go digital or cash-less in this form. The banks and telcos must invest heavily on their networks if transactions, browsing must be seamless,” he stressed. In this article: Read more: The Guardian Nigeria

Unfinished business | The Guardian Nigeria News - Nigeria and World News

Recapitalisation deadline extension excites NIA | The Guardian Nigeria News - Nigeria and World NewsThe Nigerian Insurers Association (NIA) has commended the National Insurance Commission (NAICOM) for its recent circular on extension of deadline for recapitalisation of insurance and reinsurance companies in Nigeria, describing it as a step in the right direction.

Atiku supports Amotekun, faults central security architecture | The Guardian Nigeria News - Nigeria and World NewsAtiku said as Nigeria's “security challenges are diverse...there is need for the creation of additional policing structures in the country to address the rapidly growing challenges of insecurity and crime.” Amotekun Atiku Amotekun !! is not a security Solution , its a half baked idea by rich politician protecting themselves and pretending to protect their people. INSECURITY in the country is caused because of the economic state of the country, No jobs for many & the rseort to Kidnapping .

Abu Dhabi authorities to demolish Meena Plaza | The Guardian Nigeria News - Nigeria and World NewsThirteen years after construction started on Meena Plaza, one of Abu Dhabi’s iconic buildings, authorities in the country have marked it for demolition.Construction on the 246,500-square-metre development,....

Boko Haram kills kidnapped CAN chairman | The Guardian Nigeria News - Nigeria and World NewsBoko Haram insurgents have killed the chairman of the Christian Association of Nigeria (CAN), Lawan Andimi, in Michika local government area of Adamawa state. Ahmad Salkida, a journalist with years of experience reporting the activities of the insurgents, in a series of tweets said Andimi was killed on Monday. “To break some news items can … the AGF is against community policing, Nigerians shld wake up. A man will sure go down memory lane as the worst Nigerian civilian president He has gone back home... May the Lord uphold his family..

African common market: Some threats from within | The Guardian Nigeria News - Nigeria and World NewsThe Federal Ministry of Finance, Budget and National Planning in Nigeria on December 30, 2019 issued a press release, saying: “Nigeria has received the news of the change of name of the UEMOA Currency...



VIDEO: Are you honourable members or horrible members? Lumumba - Premium Times Nigeria

BREAKING: Senate introduces bill to create agency for repentant Boko Haram members

FG releases N386m for Coronavirus prevention

US exposes FG’s plan to pay APC gov $100m from Abacha loot

Prepare for electricity tariff hike, TCN tells Nigerians

EXCLUSIVE: Abba Kyari-Monguno War: Army Chief Buratai moves against NSA

BREAKING: SARS officers allegedly shoot two traders while chasing Yahoo boy in Ogun

Write Comment

Thank you for your comment.
Please try again later.

Latest News

News

22 January 2020, Wednesday News

Previous news

BREAKING: Adoke arrives court for his arraignment on fraud charges

Next news

VIDEO: Oluwo mocks Osun monarchs over suspension Boko Haram blocks Yobe highway, battles soldiers in Adamawa Vibez EP 9: MI’s Bollywood Romance, Wizkid’s Album + Olamide’s Big Deal I’ll stop twerking videos, hubby doesn’t like them – Anita Joseph Iran Reports One Death Among 10 New Coronavirus Infections I never reported SIM card issue to DSS – Buhari’s daughter Lewandowski Double Edges Bayern Past Bottom Side Paderborn Why we plan to attend Amotekun public hearing on Monday – Miyetti Allah Coronavirus Survivor Recounts Fear, Confusion Fresh petition alleges Bayelsa deputy gov of certificate forgery Ebonyi airport: Owners of demolished buildings face hard times amid delayed compensation Lesotho Police Postpone PM Court Appearance Over Wife’s Murder
VIDEO: Are you honourable members or horrible members? Lumumba - Premium Times Nigeria BREAKING: Senate introduces bill to create agency for repentant Boko Haram members FG releases N386m for Coronavirus prevention US exposes FG’s plan to pay APC gov $100m from Abacha loot Prepare for electricity tariff hike, TCN tells Nigerians EXCLUSIVE: Abba Kyari-Monguno War: Army Chief Buratai moves against NSA BREAKING: SARS officers allegedly shoot two traders while chasing Yahoo boy in Ogun Senate plans rehabilitation agency for repentant Boko Haram terrorists (LIVE) Europa League: Olympiacos vs Arsenal – Daily Trust CBN returns over N60 billion excess bank charges to customers It’s Just A Matter Of Days To End Boko Haram Menace, Says Buratai Court dismisses corruption charges against Emir Sanusi, awards him N.2m compensation – Daily Trust