House of Representatives Urge CBN to Avert Delays in E-Bank Transfers 

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The house of representatives has urged the Central Bank of Nigeria (CBN) to address delays arising from instant (inter-bank) electronic funds transfer services to find a lasting solution to the problem.

This followed the adoption of a motion on a call on the CBN to ensure swift e-fund transfer services in Nigeria by Mohammed Bello.

The house noted that via a circular dated September 13, 2018, the CBN issued a regulation on instant electronic funds transfer services, targeted at various payment platforms that seek to provide instant electronic funds transfer services in Nigeria.

The motion urged Apex Bank to make regulations with respect to the procedure of channeling complaints by aggrieved customers and mandated the committee on banking and currency to ensure compliance.