‘Banks not shutting down for elections’

Banks will remain open during the normal working days and channels of operations will be available throughout the week.

Reacting to a trending social media message purporting that the Central Bank of Nigeria (CBN) was shutting down banking services for five days from today to Monday, February 27, because of the general elections, banks said this was not true.

The Association of Corporate Affairs Managers of Banks (ACAMB), the umbrella body of spokespersons for banks, debunked the fake news in its entirety and assured Nigerians and the public that there is no iota of truth in the viral message that is being circulated.

According to ACAMB,, no deposit money banks or other institutions providing financial services have received any directive or communication from the CBN to close the doors of their banking halls or shut their digital platforms and online banking channels against their customers because of elections.

ACAMB further assured customers that their banks have put in place measures to ensure that depositors could, as usual, access money in their accounts during this period.

“Also, 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,” the body stated.

In a statement signed by its President, Rasheed Bolarinwa, ACAMB called on Nigerians to be peaceful and orderly during the elections and wished the nation successful conduct of free, fair, and credible elections.