Elections: CBN, ACAMB Deny Alleged Plans To Shutdown Banking Services For Five Days

The Association of Corporate Affairs Managers of Banks (ACAMB) has denied trending social media messages that the Central Bank of Nigeria (CBN) ordered Deposit Money Banks (DMBs) to shut down services for five days because of the Presidential and National Assembly elections scheduled for February 25, 2023.

This was revealed in a statement signed and released by President of ACAMB, Rasheed Bolarinwa on Wednesday.

The social media had for days now been flooded with vague messages of alleged instructions from the apex bank to DMBs to shutdown services a day to the commencement of the polls.

This has created tension amongst Nigerians with many in last minute rush to withdraw cash to stock up their homes.

However, ACAMB, the umbrella body of Corporate and Marketing Communications Professionals working in Nigeria’s banking sector said the purported message did not emanate from the CBN nor any of the DMBs.

“The attention of 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 been drawn to the trending social media message purporting that the Central Bank of Nigeria (CBN) was shutting down banking services for five days from Thursday, 23rd to Monday 27th February 2023 because of the general elections holding in Nigeria over next two weekends.

“ACAMB hereby wishes to debunk the fake news in its entirety and wishes to assure Nigerians and the banking public that there is no iota of truth in the viral message that is being circulated.

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.