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Banks lose N5bn to destruction on facilities over naira scarcity

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has reported that banks across the nation have […]

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The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has reported that banks across the nation have lost a total of N5 billion due to recent attacks and the destruction of bank facilities. President Oluwole Olusoji disclosed these figures at a news conference in Lagos on Thursday. He noted that, in addition to burnt bank buildings and destroyed Automated Teller Machines, bank officials themselves have also been affected. So far, 17 bank branches have been attacked.

The assaults come amid widespread protests triggered by a shortage of naira notes, during which several commercial institutions were destroyed. Olusoji emphasized that, despite the insecurity caused by the damage to banking premises and its impact on insurance organizations, ASSBIFI remains committed to delivering services to customers in safe and secure environments. However, the association prioritizes the safety of its members and staff and will not expose them to further risk. Consequently, employees have been placed on alert and instructed to stay away from their branches if attacks on members and facilities continue, until authorities can guarantee their personal safety and workplace security.

Olusoji called on the public to cease threatening or attacking bank staff and destroying property, warning that such actions would ultimately harm the attackers themselves. “We can only provide what we have been given, and nothing more,” he said.

Ifunanya

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