Sunday, 29 January 2017

Internet suspension cripples banks, money transfer in NW & SW

Following the total shutdown of internet connection in the entire North West and South West Regions, it has emerged that commercial banks and micro-finance institutions have been the most affected by the blackout.
                Internet connectivity in the two Anglophone Regions was suspended since Tuesday January 17, and the network is yet to be restored by Government that shut it down.
                Against this backdrop, financial transactions within and outside these two Anglophone regions are witnessing serious setback.
                An official of a micro-finance institution in Kumba who gave his name only as Neba, said they have incurred enormous financial losses due to the internet disconnection.

                “Wiring of money which is our main source of income is not effective due to the internet shutdown…We virtually come and spend the whole day here without doing anything due to the blackout,” he said.
                A Buea resident who pleaded for anonymity cursed the government over the development. The resident said he tried to deposit some money into Ecobank account for two consecutive days to no avail. “I finally had to travel right to Douala to effect the transaction but it was too late as I could not beat the deadline. I had to pay a penalty of 30,000 FCFA. What a terrible situation,” the resident lamented.
Pic

Ecobank

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