Transformation To A Cashless Society-Beyond Lamentation

Nigeria perhaps still have a long journey ahead as it yearn for tranformation into a cashless society,though the use of electronic payment card in this country is gradually picking up and thanks to the fact that all the 25 certified and licensed banks by our financial regulatory body CBN (Central Bank Of Nigeria) now have one form of credit and debit cards or the other.Though,banks stated that the introduction of these cards have made banking transactions easier for customers and the general populace but some visible lapses and inefficincies on the part of these banks have rendered the use of these cards a distressing experience.To be candid,the introduction of the e-cards held a lot of benefits but the banks cash ATM (Automated Teller Machine) which often malfunction made nonsense of such benefits.Lot of customers have experienced one form of embarrasment or the other from these Automated Teller Machines,subjecting them into harrowing experience.I personally had such experience myself sometimes last year,Tuesday 25th of March to be precise after coming home from my office to meet my younger brother Tunde who came back from his school (University Of Ilorin,Kwara State) to collect some urgently needed fees and needed to go back the following morning to observe his final examination paper slated for 3-4pm.He therefore had to move very early the next morning.

And because of insecurity,I seldomly kept huge sums in my abode.I decided to move with him the next morning,stop at the bank,get some money for him and drop him where he's going to board a bus for onward movement back to his school.How wrong I was,I got to my bank at Onikolobo road where my account is domiciled and was informed that the machine was not working but was told that if I could wait for about 30-40 minutes,the problem would be rectified.

And I had no choice but to wait since my cheque book was not with me,believe me,It took me more than 2 hours for  me to make a decision of going to another bank to make my withdrawal.Getting to this other bank the electronic cash machine displayed "YOUR DOMICILIARY BANK IS TEMPORARILY OUT OF SERVICE".I was confused and later turned back and went Straight to my office where I eventually did what I always avoid by borrowing N40,000 from two of my colleagues to give to him (Tunde).He later called to tell me how he got to school and the examination hall late because of the hours wasted on trying to use the e-card machine.

Mrs. Remilekun Adejumo a colleague and one the two that borrowed me the money also share her own similar experience with me.She said,"on the evening of December 24th,2007,she had an urgent need to get some cash for personal use and considering the fact that she lives in the remote part of Abeokuta,Eleweran precisely and the nearest branch of a bank to her was the Intercontinental Bank branch located inside the Federal College of Education,Oshiele along Abeokuta/Ibadan expressway,so she decided to go there and it was in the evening.

She said she have never met someone as rude as the young man she met at the entrance of the bank that night in her life.What do you want?,the ATM is not working.Why are you coming to the bank at this time?were the questions he was asking her.

She said she even tried to explain that it was just some minutes past 8pm,and that the urgency of the situation called for her being there at that time but all was on deaf ears.

She later explained the most painful part of it all was when she saw him allowing some people in to the place where the machine is situated.And later gathered that that is what most of them do,as they only allow you access the machine when you are ready to play the game.Which made me wonder if the purpose of e-cards has any value without encountering one form of harrasment or the other.

But as customers are complaining,banks are importing and positioning more cash machines at their various branches.I also learnt First Bank PLC has introduced a foreign exchange ATM machine at the arrival hall of the Muritala Mohammed International Airport,Ikeja,Lagos for ease of forex transaction for the travellers.Well its a nice idea but why not make the present ones work effiiciently before expanding?

I interviewed a management staff of First Bank who pleaded anonymity prior to  this post,he explained how the machine works,he said the transactions are very secure,as it was strictly between the customer and the machine.

He further says banks introduced the card because they wanted to make banking services easier and cheaper and also to decongest the banking halls.He added that the e-cards were also meant to improve the security of both the customers and banking officials.

But I strongly believe banks need to respond proactively to their customer's concerns and ensure that their e-transaction systems operates in an efficient and effective manner.

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