‘Seven days is too long’ — Nigerian bank customers decry delays in failed transaction refunds

Bank customers across Nigeria are voicing growing anger over the prolonged delays in getting refunds for failed transactions, with many calling the current seven-working-day resolution window unacceptable.

From Abuja to Lagos, customers say the process is not only slow but also discouraging, forcing some to abandon complaints and absorb financial losses.

Gbenga Akintoye, a Guaranty Trust Bank customer, told NAN he had forfeited nearly ₦10,000 due to the stress of long queues at customer service points.

“Most times, the queues are so long that I just give up. It is painful,” he said, urging banks to open more complaint desks.

For Chukwuemeka Victor, an Access Bank customer, the delays can be devastating. He recounted how a failed mobile app transaction for a medical payment left him stranded.

“The bank told me it would take three days to resolve. It is unfair,” he said.

Others described repeated trips to banking halls as exhausting, while some raised concerns about small, unexplained debits that accumulate into huge sums when multiplied across thousands of accounts.

Olaedo Jones, a Zenith Bank customer in the UK, said:

“They may be small, but when you multiply them across thousands of customers, it amounts to millions of naira.”

Another customer, Tunde Adelabu of Stanbic IBTC, called for banks to work more closely with telecom firms to quickly address airtime-related deductions.

Across the board, customers are demanding swifter and more transparent processes, arguing that no refund should take more than 48 hours. They stressed that customer satisfaction should be treated as a top priority in Nigeria’s banking sector.