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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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Nasarawa police arrest 75-year-old suspected arms dealer

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Through credible and actionable intelligence, the police arrested on 7 April 2021, a 75-year-old man identified as an arms trafficker and going by the name Dahiru Abdullahi.

The cattle dealer from Kaduna State was arrested with an accomplice, Lawal Sani, a commercial bus driver of about 40 years from Katsina State in a well-orchestrated operation.

A statement was issued by the command PRO, SP Ramhan Nansel, to journalists at the State Secretariat in Lafia, Nasarawa State, on Wednesday confirming the arrest.

SP Nansel explained that the suspects were intercepted while they were moving by road through Lafia with a huge cache of arms and ammunition, allegedly heading for Ilorin in Kwara State.

“The suspects confessed to being paid ₦500,000 to transport the weapons from Benue to Kwara State—a transaction that could have armed multiple criminal networks. They have been taken into custody, and a full-scale investigation is currently underway to uncover the network behind this operation,” he added.

The items recovered from the suspects included one General Purpose Machine Gun (GPMG), three AK-47 rifles, one TAB 06 rifle, 1,096 rounds of 7.62 x 39mm ammunition, 20 rounds of 7.62mm NATO caliber ammunition, four empty magazines, and a grey Toyota Hiace bus with registration number AAA 926 XL.

“Nasarawa State is not a safe corridor for crime. We remain unshaken in our resolve to dismantle illegal arms networks and protect the lives of innocent Nigerians.

“We call on the public to stay alert and continue reporting suspicious movements through our official hotline. We assure of our continued, decisive action against threats to peace and security in the state,” the police boss declared.

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One dead, several injured in clash between herders, Gwari farmers in Niger

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At least, one person has been officially declared dead and several others wounded in a violent confrontation between Fulani herders and Gwari farmers inside Kpowi village of Fuka District in Munya Local Government Area of Niger State.

According to local sources, the incident occurred on June 2 at about 4:30 p.m. and was reportedly triggered by an argument over the alleged trespassing on farmland and destruction of crops.

Zagazola Makama reports that the issue that started as a quarrel soon degenerated into a violent brawl between members of the two communities.

Security sources have disclosed that six Fulani people were injured  the names of which were given as Ahmadu Bature, Dauda Bello, Haruna Umaru, Shuaibu Bature, Bature Bello, and Safiya Auta.

Similarly, four members of the Gwari community sustained injuries during the clash; the victims were named as Yusuf Pada, Pius Pada, Dantala Yusuf, and Joshua Mai’anguwa. All those injured were rushed to the General Hospital in Kaffin-Koro for treatment, but upon arrival, Ahmadu Bature was declared dead.

Security forces have been mobilized to the scene to prevent escalation of the crisis.

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Osun: Amotekun parades suspected drug dealers, armed robbers

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The Amotekun Corps in Osun State has arrested suspects for drug-related offences and armed robbery across the state.

The Osun Amotekun Corps Commander, CSP Isaac Omoyele (rtd), disclosed this during a suspect parade at the Osun Amotekun headquarters in Osogbo on Tuesday.

The five drug offenders, Omoyele revealed, are 29-year-old Makanjuola Sodiq, 25-year-old Jide Ojo, 29-year-old Toheeb Moruf, 20-year-old Azeez Abdulai, and 25-year-old Ademola Kehinde.

At the point of arrest, Omoyele said, “They were found in possession of Cannabis Sativa and Indian hemp.”

Omoyele said the suspects were arrested after a good Samaritan tipped the Amotekun Corps off about their activities in Ejigbo town, Ejigbo Local Government Area of the state.

He said, “After we received information from a good Samaritan of a vulnerable point in Ejigbo where different types of drugs are being dispersed, Amotekun Narcotic Squad moved in a commando-like manner and arrested the above-named suspects with Cannabis Sativa, known as Indian hemp.

“They are assisting the team in efforts to get rid of other criminals.”

The armed robbery suspects paraded are 30-year-old Shogo Oriade and 28-year-old Asimiyu Toheeb, who were arrested in the Oke-Onitea area of Osogbo.

Omoyele disclosed that they initially evaded capture but were tracked and apprehended by the intelligence team of the security agency.

Omoyele said, “On May 31, 2025, at 4:10 hrs, we responded to a distress call about a robbery in progress in the Oke-Onitea area of Osogbo. Although the suspects initially evaded capture, our intelligence team tracked and apprehended: Shogo Oriade (30), Asimiyu Toheeb (28).

“During interrogation, both suspects confessed to the robbery and admitted to having committed similar crimes in the past. Legal proceedings have commenced.”

Omoyele urged the people of the state to remain vigilant and continue supporting the efforts of the security agency.

He also urged them to report any suspicious activity to the Amotekun Corps or other relevant security agencies in the state.

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