Growing complaints from customers over failed transactions, delayed reversals, and poor customer support have sparked concerns about the operational stability of Ecobank Nigeria, with experts warning that the situation could erode customer confidence if not addressed swiftly.
Commercial analyst Nasiru Abba said the recurring issues reported by customers may point to underlying technical problems within the bank’s infrastructure. According to him, prolonged disruptions in banking services often damage customer trust and could push account holders toward competing financial institutions.
“It may likely be that their network system is downgraded and needs to be upgraded to a more current mechanism,” Abba said.
He noted that while interbank settlement challenges cannot be ruled out entirely, the problem appears more likely to stem from the bank’s internal systems.
“It could be a NIBSS issue, but most likely it is an internal network problem,” he explained.
Abba further warned that unresolved service disruptions could trigger financial consequences for the bank, particularly if customers begin redirecting funds to alternative institutions.
“Many customers may stop receiving inflows into their accounts and redirect expected deposits to other banks,” he said.
The analyst also highlighted the reputational risks associated with widespread online criticism, especially on social media platforms where dissatisfied users often share their experiences publicly.
“Some customers will spread the information through different platforms, and this could affect the decisions of prospective customers,” Abba added.
His comments come amid a fresh wave of complaints directed at Ecobank Nigeria on X, formerly Twitter, where customers accused the bank of delayed transaction reversals, failed transfers, and inadequate customer support.
On Wednesday, several users renewed their criticism of the bank, expressing frustration over unresolved complaints and inaccessible funds.
One customer, identified as Olugueemaka, questioned why a failed transaction had remained unresolved for more than a day.
“Have I not waited for over 24 hours for my failed transaction to be reversed? Is it now a crime banking with you? What is difficult in responding to my DM?” the user wrote.
Another customer, Rita Yava, lamented the lack of communication and refund after a failed transaction.
“A failed transaction, a debited account, a filed complaint, yet no response and no refund. Ecobank, how far? Or should we tag CBN?” she wrote.
Similarly, Emmanuel Ekuma accused the bank of failing to address customer concerns promptly.
“It is like you guys are criminals. Refund my money please,” he wrote.
The latest backlash follows similar complaints raised earlier in the week, as customers alleged poor service delivery, delays in account-related requests, and difficulty accessing funds.
A user identified as Olori of GA criticised the bank over delays in upgrading an account, saying the process had dragged on unnecessarily.
“You guys are actually very incompetent. Been to your bank twice over a week ago. How long does it take to upgrade an account? Why won’t you give me access to my money?” the customer said.
Another user, Keemon, alleged that funds transferred to a savings platform had not reflected after several days.
“For three days, you have fraudulently refused to release funds that I transferred to my Piggyvest account, denying me interest. I will escalate to the Central Bank and FCCPC soon,” the user wrote.
Complaints also extended to customer service responsiveness. A customer identified as Nash alleged that calls to the bank’s support lines were abruptly disconnected, while messages sent through the bank’s WhatsApp support channel went unanswered.
“I did not get any assistance. They hung up on me when I said I couldn’t hear properly, and my messages from two weeks ago have not been responded to,” the user said.
Beyond social media reactions, some customers said the repeated delays had already influenced their banking decisions.
Veronica Musa, a former customer, explained that she stopped using Ecobank Nigeria because of persistent delays in receiving transaction alerts.
“Someone would send you money, and you would wait until you get tired. Sometimes, you may never even receive the alert,” she said.
As of the time this report was filed, Ecobank Nigeria had not released an official statement responding comprehensively to the allegations. However, the bank responded to some complaints on X by asking affected customers to send direct messages for assistance.
Efforts to obtain comments from the bank’s Head of Marketing and Corporate Communications, Austen Osokpor, were unsuccessful at the time of filing this report.