Naira Crisis: Banks Lose N5 Billion to Violent Attacks on Facilities, Threaten to Shut Down Operations
- Banks have estimated the losses incurred due to violent attacks on their facilities at N5 billion
- The bankers stated via the ASSBIFI that they would be forced to withdraw their services due to the attacks
- They stated that, apart from attacks on buildings and ATMs, their members suffered personal losses
The violent attacks on banks by angry protesters in some parts of Nigeria over the scarcity of cash have cost some banks very dearly.
Bank workers put the losses incurred from the attack on their facilities in different parts of the country at N5 billion.
Source: Getty Images
Bank workers threaten to shut down operations
On Thursday, February 16, 2023, bank workers threatened to withdraw their services by shutting down the banking systems and operations if the attacks continued and the government did nothing to protect their facilities.
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BusinessDay reports that the President of the Association of Senior Staff of Banks, Insurances and Financial Institutions (ASSBIFI) stated at a news conference that besides burnt bank buildings and destroyed ATMs, bank staff also suffered personal losses.
Olusoji said:
“Notwithstanding the insecurity due to the destruction of business premises within the banking industry and the impact on insurance organizations, we remain committed to going the extra mile in providing service to our customers in safe and secure environments.
“However, we value the lives of our members and colleagues and will not put them at any additional risk. We have, therefore, put them on alert and shall instruct them without further warning to immediately stay away from their branches if these attacks on our members and facilities continue until such a time that they can be guaranteed their safety and the security of their workplaces by the relevant authorities.
“We call on the public to desist from threatening or attacking our members or destroying our properties as they will be only proverbially cutting their noses to spite their faces. We can only give what we have been provided with and nothing more."
He put the number of bank branches so far attacked across the country at 17, just as he called on Goodwin Emefiele, the governor of the Central Bank of Nigeria (CBN), to intervene and save the banks from the barrage of criticisms by making more of the redesigned naira notes available to the banks.
Punch reports that 17 bank branches have been attacked so far, according to Olusoji.
Naira scarcity: Bank staff scale fence to flee as customers get desperate over cash in video, Nigerians
Legit.ng reported that Nigerians are getting desperate and violently attacking banks to get cash.
Frustrated customers have begun to attack counters and cubicles of Automated Teller Machines (ATMs), a development that led some banks to beef up security on their premises.
However, in a viral video on social media, employees of a particular bank chose to take their safety into their hands.
Source: Legit.ng
