Deposit Money Banks to Close Early Ahead of Presidential Polls

Deposit Money Banks (DMBs) in Nigeria have announced they will be closing early on Friday, a day ahead of the presidential polls holding nationwide on Saturday.

This move is aimed at ensuring the safety of their customers and staff during the election period.

In notices issued by the banks to their customers, the banks said they would be closing earlier than their 4:00 pm official closing time. They, however, advised their customers to make use of their alternative banking solutions such as USSD, mobile apps, and online banking platforms.

The banks also assured their customers of the safety of their deposits and encouraged them to use their electronic channels to carry out transactions during this period.

First Bank in its notice told customers, “Kindly be informed that our branches nationwide will close to customers earlier than usual on Friday, 24 February 2023, by 1:00 pm.”

Stanbic Bank in an email addressed to customers said, “Please be informed that our branches will close by 1 pm on Friday, 24 February 2023. Our customer contact center will also not be available on Saturday, 25 February and Sunday, 26 February 2023, to attend to your calls and requests because of the election.”

Access Bank is also closing earlier at 12 noon. In a circular issued on Thursday via email to customers, the bank said, “Our branches will close early on Friday, February 24, 2023, at 12 noon. This is to allow for the timely departure of customers and staff to their respective locations in preparation for the 2023 general elections scheduled for Saturday, February 25, 2023.”

The early closure of banks is not unusual during elections in Nigeria, as it is done to ensure the safety of bank staff and customers. However, the banks have provided alternative banking solutions to enable their customers to carry out transactions during this period.

In a statement seen by Investors King, the Central Bank of Nigeria (CBN) also advised banks to ensure the security of their staff and customers during the election period. The CBN urged customers to report any suspicious activities around bank premises to the nearest law enforcement agency.