The Central Bank of Nigeria (CBN) has revised timelines for reversals and/or the resolution of refund complaints on electronic channels.
![](https://thenigerialawyer.com/wp-content/uploads/2026/09/NBBSPIDEL.png")
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
The revised timelines will take effect from June 8 as follows:
According to the CBN, in a statement in Abuja on Sunday, the bank stated that with regards to failed.
“On-Us” ATM transactions (when customers use their cards on their bank’s ATMs) shall be instantly reversed from the current timeline of three (3) days.
Also “where instant reversal fails due to any technical issue or system glitch, the timeline for manual reversal shall not exceed 24 hours,” the CBN said.
The CBN has ruled: “refunds for failed “Not-on-Us” ATM transactions (where customers use their cards on other banks’ ATMs) shall not exceed 48 hours from the current 3-5 days.”
Resolution of disputed/failed PoS or Web transactions will now be concluded within 72 hours from the current five (5) days.
All banks have been ordered to “resolve backlog of all ATM, POS and Web customer refunds within two weeks starting June 8, 2020”.
The CBN has revealed that, key service providers in the Nigerian payments system have also committed to establish an integrated dispute resolution platform for the industry.
This is to enhance their payment system infrastructure and processes to reduce incidences of transaction failure.
The book also examines Nigeria's legal ecosystem, focusing on the LPELR and NBA AI Guidelines. As a bonus, every purchase comes with a FREE eBook titled: How to Use the AI Features in LegalPedia and LawPavilion.
Ohio Books Ltd praises the publication, stating:
"....this is the only Nigerian book I know of on the topic."
How to Order:
📞 Call, Text, or WhatsApp: 08034917063 | 07055285878
📧 Email: benadigwe1@gmail.com
🌎 Website: www.benadigwe.com
Ebook Version: Access it directly online at https://selar.com/prv626
Authored by Ben Ijeoma Adigwe Esq., ACIarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria.
_______________________________________________________________________
“Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
