Naira Scarcity: CIBN says banks will only open if it is safe to do so
The Chartered Institute of Bankers of Nigeria (CIBN) has assured the public that the banks will remain open as long as it is safe to do so amidst challenges caused by cash swaps and scarcity of the redesigned banknotes.
Dr. Ken Opara, President/Chairman of Council, CIBN, made this known in a statement on Saturday in Lagos.
Opara emphasized that the safety and security of the staff of banks are of paramount importance.
“Hence, where there is a security challenge, the management of banks have been empowered to take proactive measures to close their operations in such location and inform the Central Bank of Nigeria,” he said. “Therefore, the safety concerns being expressed in various quarters are already being addressed.”
The CIBN President assured the public that banks will continue to ensure that adequate security measures are in place to protect staff and customers while safeguarding their assets in contending with the current challenge.
Opara appealed to the general public to remain calm and eschew any act of violence. He assured that the banking industry remains resolute and committed to finding ways to address all the related issues. “We indeed appreciate your continued patience and understanding as we work together towards restoring normalcy,” he said.
The situation has been precarious for most banks as their ATMs are being vandalized and burnt, making it difficult for customers to access their funds. This has forced banks to restrict cash withdrawals and limit services to only online transactions.
Bank staff have also had to find escape routes for fear of attacks, and some have reported being harassed and fearing for their lives. The Chartered Institute of Bankers of Nigeria and the Body of Banks CEOs are working to address the current challenges and ensure the safety of bank staff and customers.
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