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Business News of Saturday, 3 September 2022

Source: legit.ng

UBA, Access Bank adjust closing hours amid high operating costs

Access Bank logo Access Bank logo

United Bank of Africa (UBA) and Access Bank have announced adjustments in hours of operation at some of their branches.

In a separate email to their customers, the two banks cited different reasons behind the move, including insecurity and costly operating costs.

The decision will likely expand the number of Nigerians in the labour force while also encouraging a thriving Point of Sales activity.

The bank in a notification entitled Adjusted Closing Time for Select Branches to its esteemed customers contains the list of the branches and the states where they operate.

Access bank urged its customers to consider processing most of their transactions via its digital channels, Leadership reports.

Access Bank stated: “You can simply process most of your transactions via our digital channels, as a few of our Access Bank branches nationwide will be closed at 3 pm from the 29th of August, 2022.

"Other branches will be open as usual from 8:00 am to 4:00 pm and we promise to keep customers informed as it made the changes."

UBA For UBA, the bank stated in a notification on Thursday, 1 September to customers said it is adjusting working hours in some of its branches to ensure the well-being of employees and customers alike, InsideBusiness reports.

The statement titled ‘Notice of Bank Closure’ reads: “Please be informed that some of our branches will now close earlier for the safety of our customers and employees. Our digital channels will remain available to you 24/7."

Legit.ng has reported that nine banks in Nigeria said they spent a total of N23 billion on business trips across the globe in 2021, according to data collated from financial results of the banks.

The amount includes the cost of travel, hotels, passages, and other logistics which are connected to travelling within and out of Nigeria.

Access, Fidelity, Sterling, UBA, Zenith, GTB, Stanbic IBTC, First Bank, and FCMB are the banks that spent the most on travel expenses.