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

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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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Woman turns on love song and attempts suic!de

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Members of Reaction Unit South Africa (RUSA) have rescued a woman who consumed several bottles of medication in an attempt to end her life.

Multiple calls were received from residents in the area on Tuesday, March 25, 2025 reporting that the woman had turned on a love song and was in the process of attempting suic!de.

Responding Officers found the music blaring and the woman unconscious.

Reaction Officers were forced to break a gate that was locked from the inside after arriving on scene and finding the female lying on the kitchen floor.

Reaction Officers have not gathered information at this stage but were informed that the female lived with her girlfriend on the premises.

The girlfriend was not on scene at the time of the incident.

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Kidnappers demand N20 million to free Imo catholic priest

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Kidnappers of Rev Fr John Ubaechu, the Parish Priest of Holy Family Catholic Church, Izombe, Imo State, are demanding N20 million as ransom for the release of the clergyman.

Ubaechu was abducted in Ejemekwuru on Sunday evening while on his way to attend the annual retreat of priests of the Owerri Catholic Archdiocese, Imo.

His abduction was confirmed by the Owerri Catholic Archdiocesan Chancellor and Secretary, Rev Fr Patrick Mbarah on Monday in Owerri, in a statement.

 

A source from the church, who spoke to the News Agency of Nigeria, NAN, on condition of anonymity, on Wednesday in Owerri, said the kidnappers had contacted some persons through whom they first demanded N50 million, before they reduced the amount.

“Most parishioners have been extremely worried about the safety of the priest since Fr John was kidnapped and his abductors are still keeping him up to today being Wednesday,’’ he said.

The source said, though there were conflicting reports on the kidnappers’ demand, nobody is sure if the demand is actually coming from the abductors.

“Some people are saying that the kidnappers are demanding N50 million, some N20 million and some N10 million, the fact remains that Fr. John is still with the kidnappers, we keep praying for his safe release.

He also pleaded with the state government and security agencies to intervene and help rescue the priest, because he is a missionary who does not have anything yielding money for him,’’ he said.

Another parishioner, who also spoke on condition of anonymity, noted with regret that the abductor forced the priest to remove his cassock, forcing him out of his official vehicle before taking him away.

“We got information that the kidnappers forced our priest to remove his white cassock and took him out of his vehicle before they went off.

“Naval personnel at Izombe later recovered the vehicle,’’ he said.

He, however, appealed to the abductor to have a change of heart and release the priest.

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My husband makes l0ve from midnight till dawn -kaduna woman says as she files for divorce

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37-year-old woman, Linda Stephen, has approached a Kaduna Customary Court seeking a divorce from her husband, Felix Stephen, citing his excessive s3xual demands and alleged physical abuse.

In her petition, Linda, a resident of Ungwan Sunday in Kaduna, told the court that she could no longer cope with her husband’s constant need for s3x, which she described as unbearable.

“I urge the court to dissolve this marriage because I can’t stand his excessive sexual urge. He likes s3x too much, and I can’t bear it,” she said. She further alleged that Felix frequently subjected her to long hours of s3xual activity, even when she was in distress.

“Most times, he would have s3x with me from midnight till early hours of the morning. Even when I am crying, he will not stop.

“It has been three months since I moved out of his house. His relatives have been pleading with me to go back to him, but they do not know what I am facing,” she added.

Linda also accused her husband of resorting to violence whenever she refused his advances, stating that he had b3aten her in front of their two children.

In his defence, Felix admitted to his actions but pleaded with the court not to grant his wife’s request, expressing his willingness to change.

“I took my uncles and friends to her parents’ house to plead with her. But she refused to listen to us; instead, she walked out on us,” he said. He further begged the court for time to reconcile with his wife, assuring them that he was ready to control his s3xual urges.

Presiding over the case, Judge John Dauda adjourned the matter until May 6 to allow for reconciliation efforts, urging both parties to maintain peace in the meantime.

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