Fuel Scarcity: Nigeria Banks Cut Service-Hours

Posted by African Examiner Featured, Latest Headlines, News Monday, May 25th, 2015

As fuel scarcity bites harder, Nigerian banks have cut service hours to their customers as there is no diesel to power their generators.

With unstable power supply. In Nigeria, banks rely on diesel to operate at a very high cost, but diesel is now a scarce commodity with banks unable to cope.

Gurantee Trust Bank, FCMB, First Bank, Skye Bank, Zenith and Fidelity Bank have all announced service cut to customers as a result of the biting fuel scarcity.

From today, GTB, FCMB, First Bank and Skye Bank have announced that they would only render service to customers from 8.00am to 1.00pm instead of 4.00pm pending when diesel supply will improve.

Zenith Bank and Fidelity have cut their services to customers by two hours as they will now close at 2.00pm.

According to notices sent to customers, GTB said the current shortage of petroleum products in the country has limited its ability to supply diesel to all its branches, in order to continue normal branch operations.

“Due to this, we unavoidably have to close our branches nationwide at 1pm, from tomorrow Monday, 25th May 2015. Whilst we have had to take this step to close branch operations early, we would like to seek your understanding at this time, and assure you that we will continue to work hard at finding alternative solutions to this situation and will advise you once the situation has abated.

“However, all our alternative channels will be fully functional and available for all your Personal and Business Banking: e-Branches, Automated Teller Machines (ATMs), Internet Banking, SMS Banking and Mobile Banking App,” the bank said.

Also Airtel has announced service disruption in its operation due to fuel scarcity beginning from today while MTN has threatened to shut service distribution nationwide due to the same reason.