Zenith Bank, FCMB, Polaris Bank Set Different Closing Hours Over Presidential Election

Nigerian commercial banks are closing early on Friday due to the Presidential election scheduled to hold on Saturday, various statements have shown.

The Deposits Money Banks (DMBs) sent electronic messages to their account holders via SMS, email and their social media platforms. 

Zenith Bank, First City Monument Bank (FCMB) and Polaris Bank have announced their plan to close earlier than usual. 

In a post on its Twitter handle, Zenith Bank said, “Please be informed that Zenith Bank branches nationwide will close to customers at 12:30pm on Friday, February 24th, 2023.” 

Polaris Bank informed its account holders that “This is to inform you that our Banking Halls will close by 12pm on Friday, 24 February, 2023. 

Zenith Bank and Polaris Bank didn’t reveal when their banking hall will be reopened to their account holders. 

FCMB said regular business hours will resume on Monday after closing on Friday, “We will be closing by 1:00pm Friday, 24th February 2023 to resume on Monday, 27th February 2023.”

Meanwhile, amid reports that commercial banks will shut down their electronic or online banking service, Zenith Bank and Polaris Bank disclosed that their digital platform will remain open to the public. 

“Our digital channels are available for you to perform transactions conveniently despite the early closure,” Zenith Bank said. 

Also, Polaris Bank wrote, “Our alternate channels will remain available and functional for your seamless banking transactions.”

Recall that the Association of Corporate Affairs Managers of Banks denied receiving directives from the Central Bank of Nigeria (CBN) to close and shut down all banking operations, including digital channels.

“There is no iota of truth in the viral message that is being circulated. Up until this moment, no Deposit Money Banks or other institutions providing financial services have received any directive or communication from the CBN to close the doors of their physical banking halls or shut their digital platforms and online banking channels against their customers because of elections,” The President of the association, Rasheed Bolarinwa, said.