For close to three weeks, customers of Zenith Bank and Guaranty Trust Bank (GTBank) have endured ongoing service disruptions making smooth financial transactions of the banks’ platforms almost impossible. The problem is attributed to ongoing core banking migrations, a form of system upgrade.... CLICK TO READ THE FULL NEWS HERE▶▶
Both banks initially claimed the upgrades were meant to enhance user experience, the reality has been one of failed transactions, frozen accounts, disappearing balances amongst others.
As the end of the month approaches, marking the period when salaries are usually paid to workers in public and private sectors, many Nigerians are becoming increasingly anxious, especially those whose receive payments through their accounts with the banks..
Zenith Bank, which began its migration process earlier this month, reported that services were restored after one week. However, customers continue to face diverse issues, including the inability to access accounts or perform basic transactions.
GTBank’s situation has been protracted. It has now been over two weeks since the bank announced its transitioning to a new and robust core banking application system.
The bank announced on 10 October that its branches nationwide would close early on Friday, 11 October, and that its digital services would be unavailable from 10 p.m. on 13 October to 9 a.m. on 14 October due to a scheduled transition.
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“During this period, we encourage you to take advantage of our secure and convenient digital channels for your banking needs,” it said.
However, on the said 14 October, it announced again that the transition took “longer than planned” and that all services planned to open at 9 a.m. the same day would only be available from noon.
Same day, it announced it completed its migration, yet many customers are still unable to log into their accounts or see accurate balances, raising serious concerns as salary payments are due this week.
The disruptions have sparked widespread frustrations among customers, many of whom rely on their bank accounts for day-to-day transactions, businesses and, crucially, the receipt of wages.
The banking issues have left workers worried that their salaries might not be accessible when they are deposited, deepening anxieties as other banks are expected to announce their own system upgrades shortly.
Access Bank, for instance, initially scheduled its migration for 12 October but postponed it, citing the need to ensure a smoother transition.
Fears are mounting that similar disruptions could affect an even larger number of customers.
Frustration and anxiety
Bank customers who spoke with this newspaper expressed their frustrations and the negative impacts of the upgrade on them.
Jegede Adeyemi, a business owner, said he has been unable to access funds through the Zenith Bank app, hindering her ability to restock her goods.
“I didn’t realize they were upgrading the app until it was too late. Customers have been depositing into my account for nearly a week, but it wasn’t until last Friday that I discovered the issue while trying to make a transfer to my supplier,” she explained.
Ms Adeyemi, who sells books and stationery, has visited the bank twice to lodge her complaints before her supplier got credited.
“To avoid further delays, I had to open accounts with Opay and Moniepoint for smoother transactions. Honestly, it’s incredibly frustrating. I just hope this gets fully resolved soon,” she added.
Samuel Ideha, a civil servant, and Martha Yusuf, an accountant in a private firm, shared similar experiences.
Mrs Yusuf, a mother of two kids, explained how she had to borrow from people to feed and even transport herself to work hoping to pay back once the issues with her bank are rectified.
“It was on Tuesday, 15 October. I noticed my bank app was not responding. I felt it was a network issue, until Wednesday when I was in dire need of cash as I didn’t t have an ATM. The app eventually opened but my balance was N0.
“I have borrowed to my limit, and my fear now is that my salary will soon be paid into the same account. How do I go on from there?” She questioned, visibly upset.
Mr Ideha described the past week as extremely difficult.
“I often stop by a colleague’s place after work just to eat before heading home. I have no access to my money and have even had to ask my sister to send me funds through a POS shop nearby,” he said.
In contrast, Adenike Taylor, a poultry farmer, mentioned that while she can make transfers via her banking app, her account balance still shows zero balance.
“I struggled with this issue for several days, but it’s starting to improve. I can make transfers now, but I still can’t see my balance,” she explained.
Reason for transitioning
Migrating core banking systems refers to the process of transitioning a bank’s central operating system—responsible for processing transactions, managing customer data, and handling core financial functions—to a newer platform.
This is often done to improve efficiency, scalability, and adaptability, especially as older systems struggle with modern demands such as real-time processing and digital banking innovations.
The new systems are generally more flexible and cloud-compatible, enabling faster service and reduced operational costs.
Nigerian banks have recently embarked on system upgrades aimed at enhancing operational efficiency and improving customer service.
This wave of core banking migrations began with Sterling Bank, which started its transition on 10 September.
Other banks are expected to follow suit, highlighting an industry-wide shift towards modernising infrastructure to meet growing demands for seamless digital banking experiences.
Litany of complaints as customers switch banks
Many GTB customers have also taken to X to voice their frustrations with various challenges they encounter with the bank’s services, including poor communication, multiple debits, and incorrect account balances.
In one post, user Romeo shared an email from the bank inviting her to a masterclass, expressing her discontent: “The entire @gtbank @gtbank_help did not send one email offering an explanation for the nonsense that’s been going on with their bank, but do you know what’s priority to them? What they’re sending emails about?”
Another customer, Ozzy, echoed similar sentiments, stating, “GT Bank has sent no apologies or explanations or made any statement, but they are sending me emails to register for a fashion masterclass. LMAO.”
Among the many complaints, user Blaqlyn recounted being charged twice for the same transaction and not receiving timely alerts. The user tweeted, “@gtbank please explain how I was debited twice for a single transaction because you don’t send alerts when due. I need my money back or, at the very least, my statement of account.”
Ghost, another frustrated customer, commented, “@gtbank, this is taking too long. My account has been drained to a deficit of almost #5000, yet your app shows #0.00. Please return my money.”
Femi lamented, “Nigerians are so unnecessarily calm and accommodating.”
The user continued, “In a sane country, GTBank should have lost 50% of their customers by now, and this is why politicians can continue lying the same lie every year.”
Some users shared their attempts to switch to other banks to avoid delays in salary payments as payday approaches.
User Sheun Adeola advised GTBank customers to consider changing their salary accounts before payroll is processed, recommending alternatives such as Providus Bank, Opay, Fairmoney, Globus Bank, and Parallex Bank. “Told the GTB users on my team to change their salary account before payroll is done,” he wrote, adding, “Make of this what you may.”
Efforts to reach the spokespersons for the two bank on Friday on what is being done to reassure customers were unsuccessful. Calls to Sunday Enebeli-Uzor, spokesperson for Zenith Bank, did not go through. He did not respond to text messages. Also, Head of Media Relations, GTCO, Charles Eremi, did not respond to calls or messages.
