Naira Scarcity: ASSBIFI Directs Banks’ Staff To Stay Off Work | Details
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has ordered banks’ staff to stay off duties, following series of attacks of banking staff and bank facilities.
In a notice sent to all unionised banks, ASSBIFI national president, Comrade Olusoji Oluwole, cited the continued attacks on workers and banks’ facilities across the country as reason for his call.
The ASSBIFI, on Friday urged its members to steer clear of banking premises amid the violent attacks witnessed lately until normalcy is restored in affected states.
The association said no fewer than N5 billion have been lost and more than seven bank branches completely destroyed following violent protests and attacks in some states over the scarcity of new naira notes.
Mr Olusoji condemned unwarranted attacks on banks by aggrieved Nigerians frustrated by their inability to get new naira notes, called on the public to desist from threatening or attacking bank workers, or destroying bank properties because bankers are also victims of the poorly implemented currency redesign.
He said bank branches were burnt, Automated Teller Machines, ATMs, destroyed and workers’ personal effects were damaged, as well as a heavy attack on their members.
ASSBIFI had on Thursday warned against transferred aggression and attacks on bank workers.
In his press briefing on Thursday, Olusoji had said:
“We value the lives of our members and colleagues and will not put them at any further risk. We have put them on alert and shall instruct them without further warning to immediately stay away from their branches if these attacks on our members and facilities continue until such a time that they can be guaranteed of their personal safety and the security of their workplaces by the relevant authorities.
“We call on the public to desist from threatening or attacking our members, or destroying our properties as they will be only proverbially cutting their noses to spite their faces. We can only give what we have been provided with and nothing more.
“Right now, I want to believe that we will be talking about not less than five billion Naira and we are still counting, because seven branches have been burnt, ATMs have been destroyed, personal effects have been damaged, vehicles and so on and so forth.”
In a memo tagged ‘ANS/R/JA/OP/5018’ sent to all unit president and secretaries on Friday, ASSBIFI said:
“The National Secretariat has been inundated with reports of threats and attacks on lives and properties of Members and bank branches, and subsequently has been on the field to monitor and confirm the reports.
“We issued warnings and appeals to Government to provide security Measure for the Safety of Lives and Properties of our Members within and around the bank premises, but regrettably the attacks have continued without any form of security for the safety of our Members, and the recent being the attack today, Friday 17th February 2023 on one bank branch at Epe, Lagos State.
“We cannot leave the lives and properties of our Members exposed to obvious danger. Consequently, all Members Should Today (yesterday) immediately Stay Away from Work in any State where bank branches are attacked. This is to continue every day until normalcy is restored. Please Note, you will be availed further directives as events develop.”
Continuing, Oluwole among others, said:
“Since the Supreme Court order of February 2023 and the outcome of the National Council of State meeting held on Friday 10 February 2023, the CBN has not provided any direction to banks or the public despite the public statements made by the Attorney General of the Federation and some members of the Council of State.
“Our fear of the impact of this deafening silence from the authorities came to reality on Wednesday 15 February 2023 when disgruntled citizens again went on the rampage in Edo, Delta, Ogun, and Oyo States attacking and burning down banks and other institutions.
“This we believe was also fueled by the disappointing comments of some high-profile individuals in positions of authority who should have joined us in seeking solutions to the problem rather than further heating up an already volatile polity and knowing that banks are regulated by the CBN and not by any agencies of the various tiers of government.
“The much awaited but belated National address by the President this morning (yesterday) is a clear indication that the funds released to the public were not sufficient and we are amazed that in the same breath, bank officials have been accused of “placing obstacles in the path of innocent Nigerians. We sympathize with our colleagues and employers in various banks whose branches were attacked, damaged, or burnt along with their equipment.
“As we stated in previous releases, while we are not against the CBN Policy to Redesign and Withdraw the Old Naira Notes, we continue to reiterate the need to fully engage all relevant stakeholders in immediately looking beyond printing new notes as ordered by the council of state and fashioning out immediate ways to enhance alternative means of transactions that will be devoid of failures and restore confidence in the cashless system.
“The Apex bank should Increase awareness at all levels to discourage panic withdrawal and hoarding of the new currency while providing industry-wide incentives to encourage the transition from cash transactions. We salute institutions that have chosen to act proactively.
“It should monitor and sanction outlets that have been verified to shut down the use of alternative means of payment, demanding cash that finds its way into the hands of currency traders. The CBN should also monitor the abuse of the currency at public events, and apply sanctions as prescribed in the CBN act.”
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ASSBIFI President added that:
“This is not the time for trading blames or playing to the gallery for cheap publicity, but the time to constructively work towards providing solutions that will bring relief and comfort to the vulnerable Nigerians whose lives have been put on hold by the scarcity of cash and fuel, two essential items that are needed as the general elections draw near.
“Despite the losses in terms of lives, damaged properties, and looming job insecurity due to the destruction of business premises within our industry, and the impact on Insurance Organizations, we remain committed to going the extra mile in providing service to our customers in safe and secure environments.”