It also urged the CBN to make regulations with respect to the
procedure channelling complaints by aggrieved customers and mandated the
Committee on Banking and Currency to ensure compliance.
These resolutions were sequel to the adoption of a motion
sponsored by Mohammed Bello from Kano state at plenary.
Moving the motion, Bello said pursuant to Sections 2(d),
33(I)b) and 47(2) of the CBN Act, 2007, the CBN is saddled with the duty and
responsibility to promote a sound financial system in Nigeria.
He noted that via a circular dated September 13, 2018, the
CBN issued a regulation on instant (Inter-Bank) Electronic Funds Transfer
Services targeted at various payment platforms that seek to provide instant
electronic funds transfer services in Nigeria.
The lawmaker said the circular was directed at all deposit
money banks, micro-finance banks, other financial institutions, mobile money
operators, development financial institutions, payment service providers and
other stakeholders within the financial institutions.
Bello said the House is aware that: "the circular was
directed at all Deposit Money Banks, Micro Finance Banks, Other Financial
Institutions, Mobile Money Operators, Development Financial Institutions,
Payment Service Providers and other stakeholders within the financial
institutions.
"Also aware that the said circular was initiated to curb
issues regarding delayed or failed Transfer of funds, and the regulation also
stipulated sanctions against banks and other financial institutions in the
event of a failed or delayed E-Funds transfer.
"Concerned that the regulations are not being complied
with by Banks and other financial institutions as issues regarding failed and
delayed transfers are still very pronounced in Nigeria.
"Also concerned that the delays occasioned by sending
and receiving entities with respect to E-Funds Transfer Services have resulted
in untold misery to Bank customers who depend on it for emergencies.
"Worried that customers of financial institutions across
the country have inadequate means of filing complaints and getting immediate
resolutions over failed E-Funds transactions that occur on weekends and public
holidays."
Adopting the motion, the House mandated the Committee on
Banking and Currency to ensure compliance.
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