In an unprecedented turn of events, millions of customers of Zenith Bank Nigeria found themselves unable to access the bank’s services from the early hours of Tuesday, January 7, 2025. Across the country, individuals and businesses alike have been left stranded, grappling with the fallout of what appears to be a total shutdown of the bank’s digital platforms.
A Nationwide Crisis
Reports indicate that none of Zenith Bank’s core banking services—mobile banking, internet banking, and point-of-sale (POS) systems—are functioning. This disruption has caused significant distress among customers, particularly parents attempting to pay school fees for their children, small and medium-sized enterprises (SMEs) reliant on digital transactions, and business owners facing mounting losses due to stalled operations.
Dear zenith bank I come again, no prior notice, I complain I can’t access my account with screenshot shared, I was been told to file for an account update… how know how much I lost last year when you guys did upgrade. It seems losing customers everyday is what you want right
Jemiri Daniel Taiwo @iamdjvirux on
Deafening Silence from Zenith Bank
As of the time of writing, Zenith Bank has yet to release an official statement addressing the issue. The bank’s silence has only fuelled frustration and speculation among its customers. Calls and inquiries to the bank’s customer service lines reportedly go unanswered, further compounding the anxiety of affected individuals.
Stakeholders are urging the Central Bank of Nigeria (CBN), the Nigerian Deposit Insurance Corporation (NDIC), and the Federal Competition and Consumer Protection Commission (FCCPC) to intervene promptly.
“This level of operational failure in a Tier-1 bank is unacceptable,” stated a financial analyst who preferred to remain anonymous. “Regulators need to act swiftly to safeguard public confidence in the banking sector.”
Economic and Social Impact
The timing of this crisis could not be worse. With schools resuming this week, many parents are unable to make urgent payments for tuition and supplies. SMEs, which depend heavily on seamless banking for day-to-day operations, are bearing the brunt of the disruption. If the outage persists, experts warn of a ripple effect on the broader Nigerian economy, with businesses facing liquidity challenges and consumers losing trust in financial institutions.
Calls for Accountability
Consumer advocacy groups and aggrieved customers are demanding transparency and accountability. They are calling on Zenith Bank to provide a clear explanation for the outage, an estimated timeline for resolution, and assurances to prevent such occurrences in the future.
The Way Forward
For a bank of Zenith’s stature, a prolonged disruption of this magnitude raises critical questions about operational resilience and disaster recovery mechanisms. Industry experts emphasize the need for robust backup systems and crisis communication strategies to mitigate such scenarios.
As customers await clarity, the situation underscores the vulnerability of Nigeria’s banking infrastructure to technical failures. Zenith Bank’s next steps will not only determine the resolution of this crisis but also its reputation in the eyes of the Nigerian public.
As the clock ticks and frustrations mount, one thing is clear: Zenith Bank must act swiftly to restore its services and regain customer trust. The bank’s handling of this crisis will set a precedent for how financial institutions address large-scale operational disruptions in the digital age. Until then, millions of Nigerians remain in limbo, demanding answers and solutions.
