CBN, Bankers Speak on Rumoured Plans to Shut Financial Institutions, E-Banking Channels During Elections
- The CBN has denied rumours of a planned closure of electronic banking channels during the general elections
- The rumour surfaced in a message titled Special Report on WhatsApp, claiming that CBN would stop all electronic banking transactions for five days
- The bankers' association also described the report as fake news and assured customers of uninterrupted access
The Central Bank of Nigeria (CBN) has debunked rumours about the planned shutdown of electronic banking channels for the general elections.
The rumours surfaced on WhatsApp in a message tagged Special Report, claiming that CBN planned to halt all electronic banking transactions from Thursday to Monday to prevent vote-buying during the elections.
Source: Facebook
The message advised individuals to stock up on supplies and withdraw cash. It also claimed that the CBN planned to halt financial transactions from February 23rd to 27th, and banks' networks would be shut down to prevent politicians from transferring money to voters.
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The message further urged people to do any necessary transfers or withdrawals before the alleged shutdown and prepare for difficult times.
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The fake WhatsApp message reads:
“CBN plans to shut down financial transaction from thursday 23 of february till 27th of february..go and stock your home.
“Anyhow you can get money between today and tomorrow, get and keep it, also whatever transfer you want to do, do it between today and tomorrow.
"Information I’m hearing is that, as of Thursday, bank networks will go off till Sunday or Monday, so that politicians will not be able to transfer money to anybody to vote. So buy enough food at home, do your transfer now because the next five days will be difficult please.”
CBN replies on rumour plan to shutdown financial service
The Punch reports in a message on its verified Instagram page on Wednesday night, February 22, the apex bank described the report as false and urged Nigerians to disregard it.
In a similar message to CBN, 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 the fake message.
In a statement issued by the ACAMB on Wednesday and signed by its president, Rasheed Bolarinwa, the body described the report as fake news.
The statement read in part:
"There isn't a single truth in the viral message that's going around. To yet, no Deposit Money Banks or other financial institutions have received any direction or message from the CBN to shutter the doors of their physical banking halls or close their digital platforms and online banking channels against their customers due to elections."
ACAMB assured customers that banks have put adequate measures in place to ensure depositors continued to access money in their accounts during this period.
It added:
“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.”
"Old notes N5k, new notes N4k": Smart petty traders innovate to stay in business
Meanwhile, Legit.ng in a report, revealed that the shortage of new naira notes has severely hit the sales of small businesses across the country.
Some Petty traders in Lagos markets are still accepting the old naira notes to stay afloat.
While other traders are adapting by offering discounts to customers who pay with the new notes.
Source: Legit.ng
