Fact Check: Is Banks and Communication Networks to shutdown till after election?

We have received numerous inquiries about the alleged shutdown of communication networks and banks by the federal government starting tomorrow. However, we can confirm that these claims are entirely false and should be disregarded.

There have been reports circulating on social media that the Central Bank of Nigeria (CBN) will be closing down all financial transactions across banks for five days before the general elections to prevent vote-buying. However, the CBN has issued a statement refuting these claims and distancing itself from the false statement.

According to the fake statement, the CBN plans to shut down financial transactions from February 23rd to 27th, and people are urged to stock up on supplies, withdraw cash, and make transfers before the network goes off. However, Osita Nwanisobi, the Director of Corporate Communications at the CBN, has clarified that this statement is entirely false.

Nwanisobi has stressed that the CBN has no intention of shutting down financial transactions across banks in the lead up to the general elections. He has further emphasized that the CBN is committed to ensuring the stability and security of the financial system in Nigeria, and that it will continue to work tirelessly towards this goal.

At a time when there is a great deal of political uncertainty and tension in Nigeria, it is especially important that Nigerians are able to rely on accurate and trustworthy information. We urge all Nigerians to be cautious of fake news and misinformation that may be circulating on social media and to seek out reliable sources of information to stay informed.

We want to reiterate that there is no truth to the rumors of a planned shutdown of communication networks or banks by the federal government. The public is advised to be cautious and disregard any unverified news circulating on social media, especially during this election period.

Nigerians should be confident that they can continue to carry out financial transactions as usual and that there is no need to panic or stockpile supplies. We encourage everyone to remain calm, vigilant, and to continue to exercise their right to vote in the upcoming general elections.