For some days now, Fintech companies such as Opay, Palmpay, and Carbon have been hit by funds transfer difficulty in Nigeria.
The funds transfer difficulty ‘outage’ had been caused by a technical glitch on NIBSS, Nigerian Inter-Bank Settlement System leaving millions of Nigerians unable to carry out inter-bank transactions.
The fintech companies have issued apologies to their customers and have informed them that they are working to fix the situation.
The glitch, which started early on Tuesday, 11th April 2023, continued until the morning of Wednesday and are still affecting a sizeable number of customers as this report is being filed.
According to sources close to NIBSS, the technical issue was caused by a network failure, which has affected the core of the banking system.
The glitch has caused frustrations and inconveniences for customers relying on these fintech platforms for daily transactions.
Many Nigerians rely on the fintech companies for daily business and domestic transactions.
Meanwhile, the Fintech companies have asked for patience. In a statement released by Carbon, the company stated that they are aware of the issue and are working with NIBSS to resolve it as quickly as possible.
The statement reads: “Hey Carbon fam! We’re aware that some of our customers are experiencing transfer delays and we apologize for the inconvenience. Our team is actively working to resolve the issue as quickly as possible. We appreciate your patience”.
Kuda has also issued a similar statement, apologising to customers for the inconvenience and assuring them they are working to resolve the issue.
Nigerians have also reacted to the frustrating situation. Some customers took to Twitter and other social media platforms to express their frustration, with many calling for a speedy resolution.
As at the time of filing this report, NIBSS and the affected fintech companies are still working to resolve the issue.
