An economic expert has cautioned Nigerians against exaggerating recent incidents involving the electronic payment platform Remita and some banks, saying the issues were temporary and that operations across the financial system are gradually stabilising.

The expert noted that while brief disruptions in digital payment services and banking platforms had raised concerns among customers, such incidents are not unusual in a highly digitised financial ecosystem. According to him, occasional glitches may occur due to system upgrades, network adjustments, or increased transaction volumes.

He explained that payment platforms like Remita play a major role in facilitating government and private sector payments, and any temporary disruption can quickly attract public attention. However, he stressed that these incidents should not be interpreted as signs of systemic failure within Nigeria’s banking sector.

The analyst added that banks and payment service providers usually respond swiftly to resolve technical issues and restore services once faults are detected. He emphasised that the infrastructure supporting electronic transactions continues to improve as financial institutions invest in stronger digital systems.

He also urged the public to avoid spreading unverified claims on social media, noting that exaggerated reports could create unnecessary panic among bank customers and undermine confidence in the financial system.

Meanwhile, the Central Bank of Nigeria has repeatedly assured Nigerians that the country’s banking sector remains stable and resilient despite isolated operational challenges. The regulator said banks operate under strict supervision and that mechanisms are in place to detect and address any emerging risks promptly.

The expert therefore advised customers and businesses to rely on official information from banks and regulators when disruptions occur, rather than drawing conclusions from rumours or incomplete reports.

He concluded that with ongoing upgrades in banking technology and regulatory oversight, Nigeria’s digital payment ecosystem is expected to remain reliable and continue supporting the growth of cashless transactions in the country.