Nigeria’s leading bank, Zenith Bank has confirmed the collapse of the Interbank Transfer Platform which enables transfers from one bank to the other.
In a statement to its customers Tuesday, the bank said the platform is “currently experiencing technical challenges.”
“Due to this, you will be unable to successfully transfer funds to accounts in other banks or receive inflows from them at this time.
“All efforts are being made to rectify the situation and we will inform you as soon as the service is restored”, the bank said.
Many bank customers have reported glitches in transferring money from one bank account to the other. The problem was first noticed Tuesday morning with many POS terminals reporting ‘bad signals’. Later people found that they could also not withdraw money via ATMs in several cities.