Banks To Shut Down Services For Elections? – Fresh Revelation Emerge

Banks To Shut Down Services For Elections? – Fresh Revelation Emerge

The Association of Corporate Affairs Managers of Banks (ACAMB), the umbrella body of corporate and marketing communications professionals working in Nigeria’s banking sector, has debunked social media rumors that the Central Bank of Nigeria (CBN) will close banks for five days between February 23 and 27 due to general elections.

The association stated in a statement signed by its president on Wednesday that no Deposit Money Bank (DMB) or other institution providing financial services in the country has received such a directive from the CBN.

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Bolarinwa said, “Up until this moment, no Deposit Money Banks (DMBs) or other institutions providing financial services have received any directive or communication from the CBN to close the doors of their physical banking halls or shut their digital platforms and online banking channels against their customers because of elections.”

While urging Nigerians to avoid panic spending, Bolarinwa also stated that banks have put in place measures to ensure smooth financial transactions during the election season.

“Customers who wish to carry out transfers or use electronic banking services will have unhindered access to these services before, during, and after the elections.

“ACAMB urges Nigerians not to panic and to also avoid uncontrolled spending as a result of the fake news about the alleged plan to shut down bank branches and all digital banking channels.

“Members of the public should discountenance the trending message maliciously concocted by its faceless authors to cause disaffection among the citizenry and the DMBs.

“ACAMB calls on Nigerians to be peaceful and orderly during the elections and wishes the nation successful conduct of free, fair and credible elections,” he added.

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