Nigerian Banks To Close Branches Nationwide As FG Declares Holiday
- The federal government declared public holidays to mark Eid-ul-Adha celebrations
- All Nigerian banks and other financial institutions will close branch operations nationwide during the holiday period
- Banks will rely on digital platforms to ensure customers are served during the holiday
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
All the Commercial Banks in Nigeria are set to close their physical branches on Wednesday, May 27, and Thursday, May 28, 2026.
This comes as the Minister of Interior, Dr Olubunmi Tunji-Ojo, on behalf of the federal government, declared public holidays to mark the celebration of the Eid-ul-Adha.
Source: Getty Images
Eid-ul-Adha, the most famous event in the Islamic religion, is the Festival of Sacrifice. Muslims all around the world observe the holy festival by praying and giving alms.
Federal government announces holiday
In the statement announcing the public holiday, the minister said the declaration reflects the federal government’s respect for the faith and spiritual heritage of millions of Nigerian Muslims observing the sacred festival.
The statement reads in part:
“This declaration affirms the Federal Government’s profound respect for the faith and spiritual heritage of millions of Nigerian Muslims who join the global Islamic community in observing this sacred occasion."
Tunji-Ojo also felicitated with Muslim faithful within and outside the nation on the Eid-ul-Adha.
According to him, Eid-ul-Adha is a festival of spiritual significance, hinged on the principles of sacrifice, obedience to God and kindness to all mankind.
The minister also tasked all Nigerians to seize the occasion of the celebration to pray fervently and reflect deeply on the peace, security and prosperity of the nation.
"It is in the spirit of brotherhood, humanity and national unity that the Federal Government congratulates all Muslims on a happy, blessed and peaceful celebration."
He reiterated the call for Nigerians to hold tight to the principle of national unity and peaceful co-existence throughout the celebration.
Tunji-Ojo enjoined Nigerians to draw inspiration from the lessons of sacrifice, love and support, particularly to the less privileged among them.
The minister, however, underscored the necessity of prayer for all to make a sacrifice for the maintenance of peace and stability throughout the nation.
Source: Getty Images
Banks declare public holiday
In a previous announcement, the banks instructed customers to use digital platforms to carry out transactions.
A sample notice to customers reads:
"We encourage you to make use of our digital channels to carry out your transactions during this period. Wishing you a safe and restful holiday.”
Nigerian bank to open 500 new branches
Earlier, Legit.ng reported that the Alternative Bank (AltBank) has unveiled plans to expand its network from over 130 branches and service locations to as many as 500 nationwide in 2026.
This is part of an ambitious strategy to drive financial inclusion and ethical banking in Nigeria.
Speaking with Islamic Finance Viewpoint, the bank’s Executive Director for the South, Korede Demola-Adeniyi, said the non-interest banking (NIB) sector remains significantly underpenetrated, accounting for just 1.7% of Nigeria’s total banking assets in 2024, despite rising demand for ethical and value-based financial services.
Source: Legit.ng
