System Upgrade: Nigerian Banks That Inflicted Pains On Customers

By Oluwapelumi Oluwayemi

In recent weeks, Nigerian banks have faced intense criticism due to disruptions in services, leaving customers unable to access their funds and complete transactions.

The disruptions by Guaranty Trust Bank (GTBank) and Zenith Bank, in particular, have seriously affected the ability of thousands of customers to access their funds, perform transactions, and manage their finances effectively, causing a public relations crisis for these financial institutions.

GTBank, one of Nigeria’s leading tier-1 banks, embarked on a high-profile transition from ICS Financial Services to the Finacle Core Banking System by India’s EdgeVerve Systems.

Initially, the bank informed customers that digital services would be unavailable from 10 p.m. on Friday, October 13, to 9 a.m. on Saturday, October 14.

This migration period was later extended as challenges emerged, pushing the reopening to noon on October 14.

Despite assurances that services would be fully restored, customers soon reported continued difficulties in accessing their accounts.

For over two weeks, GTBank customers have experienced different issues, including failed transactions, frozen accounts, and inaccurate account balances, all of which have led to customers frustration.

Complaints poured in on social media platforms, such as X (formerly Twitter), where users expressed anger over poor communication, account access problems, and a lack of satisfactory resolutions.

One user, @Nifedipine, tweeted: “Is @gtbank @gtbank_help even a bank like this? Nothing works right now—not online banking, not USSD, not customer care. What exactly works??”

Another angry customer, @Smartboss, voiced a similar frustration: “Why is my account balance showing 10,000 Naira when I have over 200,000? And you’re still deducting stamp duty?”

Also, Zenith Bank customers have faced their own set of problems since the bank’s October 1 system update.

Following the upgrade, customers encountered login issues and struggled to complete basic transactions, with service restoration taking nearly a week. Zenith Bank apologized for the inconvenience, but technical issues persisted.

Complaints of “disappearing balances” and inaccessible funds dominated social media channels, where frustrated users tagged both the bank and the Central Bank of Nigeria (CBN) in calls for intervention.

A customer, @IbadanCarDealer, tweeted on October 3: “People left their homes early to complain about your failed services, only to find your branch closed. No explanation! Very poor customer care, @ZenithBank.”

Another user, @OlaTheNobleMan, shared his shock after finding his balance reduced inexplicably following a transfer, jokingly questioning if “yahoo boys” (scammers) were working in the bank.

In his words, “The way Zenith dey move these days ehn…you go know say yahoo boys don dey work for bank. Normally I no dey use am collect money but someone sent me 15k without asking. I withdraw 3k inside 15k…now my balance dey show N1,880 . How naw???”

As the end of the month approaches, which is the traditional payday for most Nigerian workers, anxiety among GTBank and Zenith Bank customers is mounting. Many are concerned they may not be able to access their salaries promptly, intensifying their frustration. For customers who receive salaries through these banks, the possibility of additional delays is worrisome, particularly in a country where many depend on timely access to wages for essential daily expenses.

A customer, @Kwanyenorth posted:”Salary week: Company’s account- GTBank, My salary account-GTBank, GTBank please.”

Felix the Gen Z HR posted: “Dear @gtbank. This is payroll week o. Please fix up people’s accounts abeg.
People are angry and they will not know that HR is not the one holding their money because “HR is always the problem” Fix up o. I don’t want people coming to throw hands around me.”
In an attempt to mitigate the frustration, GTBank announced that all its branches nationwide would remain open over the weekend from October 26-27 to help customers resolve outstanding issues. Despite this measure, complaints continue to spread as users experience delays, particularly for online transactions and account transfers.

One frustrated customer, @MrElBonga, urged the CBN to hold banks accountable: “What are you doing regarding the incompetence demonstrated by GTBank and Zenith? Customers deserve respect and compensation for these inconveniences.”

Due to this disruption, many customers turned to fintech platforms like OPay, PalmPay, and Monie Point as alternative options for their financial transactions.

The ongoing system issues in Nigerian banks show the challenges of balancing technological upgrades with customer needs. There is also a critical need for robust risk management and clear customer communication in order to restore trust of customers and ensure seamless service delivery in future upgrades.

PM NEWS