Since October of this year, Zenith Bank, a leading financial institution in Nigeria, has been experiencing technical and database issues. Customers have reported difficulties using the bank’s mobile app, as well as delays in fund transfers and unauthorized debits from their accounts. There have also been reports of problems with point-of-sale transactions and wasted customer service calls.
![](https://thenigerialawyer.com/wp-content/uploads/2024/11/TheNigerialawyer-WhatsApp-Channel1.jpg")
The bank has acknowledged these problems and stated that it is working to resolve them as soon as possible. However, the length of these issues has caused significant customer frustration and concern. The unauthorized debits, in particular, have raised serious concerns about the bank’s system security and reliability.
This was demonstrated even further when one of their customers, Chiamaka Jennifer, took to social media to complain about how over four million naira was deducted from her account. “Please, I need the services of a lawyer. Unauthorized transactions were made on my account last night around 8:40pm, and everything is gone… Over 4 million naira has been deducted. And @ZenithBank is remaining silent…. This is the sum total of my life savings….” She tweeted on January 10th, 2023.
Two days later, Jennifer tweeted an update, stating that Zenith Bank had only refunded 80,000 naira rather than the entire amount that had been incorrectly debited. ““Please Nigerians keep tagging @ZenithBank ….I need my money complete. 4,039,900 not 800,500. @ZenithBank Refund my money in full. This money is my only plan A– Z…this is my life savings”
Jennifer’s situation, as tragic as it appears, is only one of many instances of Zenith Bank’s unauthorized debiting from their customers’ accounts. “Please zenith bank refund my money before I start my wahala in your branch at osogbo tomorro; the sum of 8500…” a Twitter user named Sheyhance tweeted.
Customers have also reported significant delays in fund transfers. Customers have complained about long wait times for their transactions to be processed, with some claiming that their transactions were never completed.
Some customers have suffered financial losses as a result of being unable to access funds needed for urgent expenses.
On December 21, a Twitter user named @obaofph01 described how
Zenith’s delay in fund transfers cost his friend a job opportunity. “…. The level of network failure in Zenith Bank in the last year is really terrible,” he tweeted. A business deal worth over N66 million was lost by a friend of mine due to transaction delays caused by network failure. Please improve.”
Another Nigerian Twitter user asked, ““Zenith bank please, why is there always delay in payment now… Transfered money since over 5hrs now and I’m yet to receive alert for it.”
Customers have also reported issues with point-of-sale transactions and wasted customer service calls, in addition to these issues.
Ironically, these customers do not just waste their time in unanswered customer service calls, they also waste their airtime. It’s almost as if they have to spend so much just to get a bank solution that’s supposed to be free.
Customers have reported problems making purchases with their debit cards, with some reporting that transactions were declined despite having sufficient funds in their accounts.
There have also been complaints of dissatisfaction with the bank’s customer service, citing their inability to resolve issues in a timely manner.
One of these complaints came from a customer named Nwafor Gospel. Here’s his Twitter statement on the subject: “Hello @ZenithBank. My mum who’s currently based out of the United States has just informed me that there’s been consistent withdrawals from her zenith bank account without her authorisation. All efforts to contact your customer care have proved abortive.”
Among bank users, there is a widespread belief that Zenith is profiting from debited fake transactions as a result of their customer service’s slow response to such problems.
“Zenith bank makes more profit from failed transactions/declined transactions, which they still debit from users than anything. Cause when you think of their long ass customer care line in the bank or the online one that doesn’t work you just get weak..” said a Twitter user named Princess Mulan00.
It is critical that Zenith Bank take immediate action to address these issues and ensure customer satisfaction. Legally, the prolonged technical and database issues, as well as the unauthorized debits, may be interpreted as a breach of the bank’s contractual obligations to provide dependable and secure banking services. As a result, customers may have grounds to sue the bank, seeking compensation for any financial losses and damages for any inconvenience.
However, Zenith is not alone in the web of banking and fintech controversies. Further investigations by TheNigerianLawyer discovered several complaints about a fintech startup called Quickteller. Quickteller is a Nigerian fintech startup that offers an online and offline payment platform, as well as bill payment and airtime top-up. Interswitch, a leading digital payments company in Nigeria, founded the company in 2007. Individuals can use Quickteller to pay for a variety of services, such as utility bills, school fees, and government payments, as well as transfer money to other bank accounts.
Furthermore, the platform allows merchants to accept payments from customers via its various channels, which include its website, mobile app, and point-of-sale terminals.
Despite its popularity, Quickteller has its own set of issues, and customers have raised some notable complaints about its services.
Emma, one of their customers, took to Twitter to complain about a failed transaction totaling over 100,000 naira that they refused to credit to her account despite numerous complaints to their customer service. “It’s been more than 10days since I lodged my complaint For failed transactions to buy ticket on Airpeace on your app. Instead of u to reply me with update about how my money would be reversed you are busy bombarding my email with this #170,200 is not beans o..” she tweeted.
Customers have also complained about fund transfer delays. “I just paid my dstv bill, which was successful on your app,” @xtanlee bigBag complained on Twitter. “I called their customer service after hours and they said the payment had not reflected on their system. What’s going on, @Quickteller?”
These highlighted issues are only a microcosm of the numerous troubles Nigerians are facing with financial institutions such as Zenith and Quickteller.
It is critical that the industry take proactive steps to address these technical issues and ensure that they are equipped to provide secure and dependable services to their customers. This will not only increase customer confidence, but will also help the Nigerian economy grow and develop.
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