Three leading banks in Nigeria; First City Monument Bank (FCMB), Wema bank and First bank a few hours ago announced they will shut their operations from 1:00 pm Monday (today) due to the persistent nationwide fuel crisis.
FCMB had announced through text messages to its customers nationwide that, “our branches will close at 1:00pm Monday, May 25, due to the shortage of petroleum products. All our alternate channels will remain available”.
While First bank released a notice that it will close all its branches nationwide by 1pm, Wema bank’s notice indicates that it will close by 1.30pm today.
Nigeria has been brought to standstill for the past two weeks over the refusal of oil marketers to import and distribute petroleum products. There had been a dispute between the Federal government and major oil marketers over debt issues coupled with major strike action by petrol tanker drivers.
The fuel crisis had been having its toll on major business in Nigeria as big telecom companies i.e MTN, Airtel have announced they could not operate optimally due to non availability of the petroleum products.
It would be recalled that, Guarantee Trust Bank (GTB), a major player in the banking sector made announcement over the weekend that it will shut it doors to all its customers by 1:00pm today. FCMB, First bank and Wema bank are the other banks to announce early closure because of the nationwide petroleum product scarcity.