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CBN reacts to rumour of shutting down financial transactions days to election

The Central Bank of Nigeria (CBN) has dismissed the rumour that the apex bank is planning to shut down all banking and financial transactions ahead of the general elections.

The apex bank dismissed the claim that it’s planning to shut down financial/ bank transactions from February 23 to February 27, 2023, in an attempt to curb vote buying in the forthcoming general elections.

The said rumoured reports read: “CBN Plans to shut down financial transaction from Thursday 23 of Febuary till 27th of February.

“Go and stock your home. Anyhow, you can get money between today and tomorrow, get and keep it, also whatever transfer you want to do, do it between today and tomorrow, information am hearing is that, as from Thursday, bank network will go off till Sunday or Monday, so that politician will not be able to transfer money to anybody for vote, so buy enough food at hom , do your transfer now. Because the next five days will be difficult. Please.”

While reacting in a statement released by the bank’s Director of Corporate Communications, Osita Nwanisobi on Wednesday, February 22, 2023, the mother of all banks described the claim as untrue.

He sent message of warning to members of the public to be careful of unverified and fake news.

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