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House of Representatives have urged CBN to direct banks to reverse failed transactions immediately

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House of Representatives

The House of Representatives has urged the Central Bank of Nigeria, CBN, to direct banks to work on their systems to mitigate failed transactions and immediately reverse failed transactions without the customer’s prompting.

The decision of the House followed the adoption of a motion moved at plenary on Tuesday by Emmanuel Ukpong–Udo.

Explaining his motion, Ukpong–Udo said according to the Nigeria Inter-Bank Settlement System Plc, over 135, 500,000 Nigerians use banks.

He said the CBN released a statement on June 8, 2020, revising timelines for reversals and resolution of refund complaints as follows; 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 days, where instant reversal fails due to any technical issue or system glitch, the timeline for manual reversal shall not exceed 24 hours”

The lawmaker noted that the CBN also resolved that refunds for failed “Not-on-US” ATM transactions, where customers use their cards on other banks’ ATMs shall not exceed four hours from the current 3-5 days.

Ukpong–Udo added that the CBN further resolved that resolution of disputed/failed POS or Web transactions shall be concluded within 72 hours from the current five days.

He noted that the CBN also resolved that all banks are directed to resolve the backlog of all ATM, POS, and Web customer refunds within two weeks starting June 8, 2020.

The lawmaker decried that Nigeria’s financial sector was facing serious concerns due to persistent complaints of failed customer transactions, with over 69 percent of complaints in July 2023 encompassing failed transactions.

Ukpong–Udo noted the rapid increase in the number of failed banks and the magnitude of the problem which has reached an unprecedented level.

He expressed worry that the high rate of failed bank transactions was causing a decrease in business investments and lending across the country.

The Green Chamber, therefore, urged the apex bank to direct banks to reverse customers’ funds within the stipulated periods whether or not the customers lodge complaints.

It also urged the CBN to direct banks to work on their systems to mitigate failed transactions and immediately reverse failed transactions without the customer’s prompting;

The House also mandated the Committees on Banking Regulations, Banking and other Ancillary Institutions, and Digital and Electronic Banking to liaise with the apex bank and Nigeria Interbank Settlement System, NIBSS, to look into the issues and provide solutions.

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“It took me getting married and giving birth to realise marriage benefits men more” — Woman shares emotional thoughts

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A woman has stirred serious conversations online after opening up about how marriage and motherhood changed her perspective on life.

In a heartfelt reflection, she said it was only after getting married and giving birth that she began questioning who marriage truly benefits.

According to her, women often carry the heavier load — emotionally, physically, and mentally.

She explained that marriage can make women feel like tools, responsible for cooking, cleaning, caring for the home, and even contributing financially, while still bearing the full weight of pregnancy, childbirth, and childcare.

She questioned why something described as a “blessing” should come with so much pain, stress, sleepless nights, and emotional strain for women.

In her words, childbirth comes with intense pain, followed by years of responsibility that largely fall on the woman, while many men continue life almost unchanged.

She admitted she never strongly pushed for marriage herself and only went along with it after family pressure. It was the lived experience — not theory — that opened her eyes.

While she made it clear that she loves her son deeply and finds joy in him, she said motherhood also forced her to confront uncomfortable truths about expectations placed on women.

📹: TT/mummychika1

 

https://www.instagram.com/reel/DSP0XSnjAvd/?igsh=MTd3ZzdlbWI0dHV1Nw==

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Private jet crash lands at Kano airport

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A jet operated by Flybird Airlines has crash-landed at the Mallam Aminu Kano International Airport (MAKIA), Kano, causing panic among airport users and sending shockwaves through the aviation community.

An eyewitness stated that the aircraft, which arrived from Abuja, was carrying 11 occupants, including three crew members, when the incident occurred at about 9:30 a.m. on Sunday, December 14, 2025.

According to the accounts, the jet experienced difficulties on landing and crash-landed on the runway, leading to tense moments as passengers were quickly evacuated from the aircraft.

All occupants were safely evacuated, with no immediate reports of injuries or casualties.

Airport authorities were said to have promptly secured the scene, while emergency response teams were deployed to prevent further danger and ensure the safety of passengers and airport personnel.

Operations around the affected area were temporarily restricted as officials began preliminary assessments.

 

As of the time of filing this report, the cause of the crash-landing had not been officially determined, while aviation authorities were expected to commence a full investigation into the incident.

 

https://www.instagram.com/p/DSP6bFqjC2v/?igsh=MWQ1bmk0NTI2Zng2

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One of the gunmen who opened fire on innocent civilians observing Hanukkah at Bondi Beach has been identified as Naveed Akram.

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One of the gunmen who opened fire on innocent civilians observing Hanukkah at Bondi Beach has been identified as Naveed Akram.

On of the suspects was disarmed by a bystander and it’s been gathered that the police have arrested one of the suspects.

NB: This page does not support violence and this is just a news report for awareness.

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