The House of Representatives has implored the Central Bank of Nigeria (CBN) to order commercial banks to sanitize the existing online/electronic banking platforms to ensure effective and productivity of electronic banking operations in Nigeria.
This came after a motion by Sergius Ogun (PDP, Edo) was unanimously adopted at the plenary on Thursday March 23.
Ogun while moving the motion referenced Section 88 (1) and (2) of the Constitution, saying the National Assembly has the power to launch investigation into the activities of any organization established by the Act of Parliament.
He said: “In the wake of the recent naira redesign and cash withdrawal limit policy of the CBN, there has been an increase in the use of online and electronic banking services to carry out monetary transactions across the country.
“The use of online or internet banking services by Nigerians in the past three months or thereabout has been characterised by varying degrees of hitches ranging from unsuccessful electronic bank transfers, Point of Sale (PoS) service failure and a host of others.
“[We are] worried that if nothing is done by the CBN to address these difficulties or ineffectiveness, Nigerians will continue to suffer untold hardships and loss of monies to unsuccessful electronic bank transactions.”
The Deputy Speaker, Rep. Ahmed Wase directed the Committee on Banking and Currency to make sure the apex bank comply with the position of the Green Chamber and get back to the House within 4 weeks for further legislative action.