NIGERIA NEWS: Banks Get Fresh Directive On Operations Over New Naira Crisis 

NIGERIA NEWS: Banks Get Fresh Directive On Operations Over New Naira Crisis 

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) have asked banks to resume operations from Monday, February 20, 2023.

Naija News earlier reported that the association had directed all bank workers to stay away from work as more bank branches come under attack by hoodlums across the country owing to the current Naira scarcity.


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However, in a press statement released on Sunday evening, the President of the association, Olusoji Oluwole ordered its members to resume immediately, but however, cautioned them, without further instruction, to shut their doors and gates against customers whenever their lives are under threat.

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“Following the recent unwarranted attacks on members of ASSBIFI, other bank workers, and the destruction of several branches across various states, we were forced to issue a stay-at-home order to our members to safeguard their lives, and properties of their various organisations,” he said.


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“Based on the outcome of our discussion, we hereby release the following statements: while our members will resume at their functional branches immediately, the safety and security of their lives remain paramount to us and we continue to demand that visible and adequate security is provided in all operational areas. particularly places that are traditionally known to be volatile.

“In the event of any threat of attack by the public without visible protection, they have been advised to shut down and move to safe locations until such a time that their safety can be guaranteed.”

However, he advised members to assess the security situation in their environments before opening for business.

Oluwole said the association is concerned by the inciting and threatening statements following the initial inability of banks to accept old N1000 and N500 notes based on the instruction of the banking regulator, the Central Bank of Nigeria.

By Chukwuani Victoria

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