Access, UBA, Zenith, GTbank, Others To Shut Branches Nationwide for 3 Days After FG’s Announcement
- Nigerian banks and other financial institutions are now expected to close their branches nationwide
- The closure complies with the public holiday declared by the federal government for the Christmas and New Year celebrations
- During this period, Nigerians will rely on ATMs and other electronic channels, including USSD and mobile apps, for transactions
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigerian commercial banks, including Zenith Bank, United Bank for Africa, Access Bank and other financial institutions nationwide, will be closed on Wednesday, December 25; Thursday, December 26; and Wednesday, January 1, 2025.
This is in observance of this year’s (2024) Christmas, Boxing Day, and New Year celebrations.
Source: Getty Images
Bank workers to observe public holiday
Olubunmi Tunji-Ojo, the Minister of Interior disclosed the public holiday in a statement signed by the ministry’s Permanent Secretary, Magdalene Ajani, on Monday, December 23, Punch reports.
In his message, Tunji-Ojo extended warm wishes to Nigerians, urging citizens to embody the spirit of love, peace, and unity associated with the season.
The message reads:
“The Christmas season is a good moment for both spiritual reflection and national renewal. As we celebrate the birth of Jesus, the Prince of Peace, let us demonstrate kindness and extend goodwill to one another, irrespective of our differences."
Tunji-Ojo highlighted the importance of strengthening family and community ties to foster harmony and contribute to national development, BusinessDay reports.
Reaffirming the government’s commitment to the well-being of its citizens, Tunji-Ojo added.
“The Federal Government is committed to ensuring peace, security, and prosperity across the nation.”
He expressed confidence that President Bola Tinubu’s Renewed Hope Agenda would pave the way for a brighter and more prosperous 2025.
Bank customers alternatives
As in previous holidays, Access, United Bank for Africa, Zenith and other Nigerian banks are expected to reach out to their customers via email and social media platforms to announce the closure of branches nationwide.
Bank customers are expected to make transactions using electronic banking services during the holiday season.
The major types of E-banking are online Internet banking, mobile banking, USSD, and Automated Teller Machines (ATM).
CBN instructs banks to make available cash at ATM
To ensure efficient cash disbursement, the Central Bank of Nigeria has instructed banks to provide cash to customers through ATMs and over-the-counter transactions.
The apex bank, in a statement, emphasized its commitment to enforcing compliance with the directive.
Customers have been advised to report banks without cash at their ATMs using state-specific dedicated phone numbers.
PoS operators adjust prices
In a related development, Legit.ng reported that Point of Sale (PoS) operators across Lagos are exploring ways to cope with recent changes introduced by the Central Bank of Nigeria (CBN).
The CBN, in a statement, restricted cash withdrawals on PoS machines to a maximum of N100,000 per day.
In response, PoS operators have decided to adjust their withdrawal and deposit charges.
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Source: Legit.ng
