Ban Online Banking or Face Mass Protest – Groups warn FG

Human Rights and Pro-democracy groups has issued Federal Government 14 days ultimatum to ban online banking outfits in the country or face mass protests.

The  Human Rights, Liberty Access and Peace Defenders’ Foundation (HURIDE)  and Campaign for Democracy (CD) in South East made the call in a statement signed by Executive Director, HURIDE and Chairman of CD in the  South East, Dede Uzor A Uzor.

The groups accused the online banking outfits of aiding and abetting financial crime in the country, just as they accused the online bankers of not fully complying with the operational guidelines establishing them.

According to the groups, the internet bankers short-change their customers by failing to send money to the recipient at the other end and they would not return it to the sender when it does not go among other infractions.

The statement reads in part, “It takes weeks before they can refund such money and in some cases they don’t refund them because some frustrated customers don’t have the patients to go the whole log in recovering their money.

“The nature of online banking gives room for fraud especially in our environment where people are still predominantly illiterates particularly in area of  Information Communication Technology  (ICT).

“The online banking is a license for some privileged few who are granted license to commit fraud. Regular banks with all the regulations still defraud customers, what would happen to online bankers that are prone to abuse financial recklessness and obnoxious dispositions?

“They should do away with online banking. It does not add any value to our economy. The earlier they do it, the better.”