The Apex bank noted that it initiated the audit of the e-payment channels due to the challenges and widespread transaction failure faced by bank customers and also, to help identify gaps in the industry’s infrastructure that needed fixing.
These challenges gathered momentum during the peak of the naira redesign policy, a development which caused a spike in the number of e-payment transactions across the country.
While noting that a similar incident during the COVID period also caused a spike in the number of electronic transactions, Adeyemi added that the adoption of electronic transactions across many sectors of the economy increased and was actually exceeded this year due to the Naira policy.
