Banks woo customers to digital channels

Some banks have started wooing customers to use their digital channels as the hunger protest commenced on Thursday.

The According observed on their social media platforms and via emails sent to their customers on Thursday amid the nationwide protest.

In an email, FirstBank told its customers, “Our alternative channels are available, We are here to ensure you have seamless transactions across all our touch points. To support your financial needs at every point, you can use the following alternative channels available 24/7 for all your transactions.”

United Bank for Africa, via its Instagram page, assured customers, “We are just a tap away! Experience the convenience of managing your finances on the go with our digital banking platforms. Seamless transactions anytime, anywhere.”

FSDH Merchant Bank also, via its Instagram page, said, “Our electronic channels are up and running. All our electronic channels are fully operational to help you transact with ease.”

None of the banks operating in the country announced a closure due to the hunger protest and some bank branches visited by The According on Thursday were open for business.

The Access Bank branch along Old Ojo Road close to First Gate in the Maza-maza area of Lagos was open on Thursday morning and all its ATMs were also dispensing.

The Fidelity Bank branch next to it had its gates locked even though there were security guards and an armed policeman present.

The same scene was at the bank’s branch near the Festa Link Bridge.

Zenith Bank along Old Ojo Road, close to First Gate, was not open, but its ATMs were available to members of the public.

Polaris Bank branch at Festac was open to customers.

The spokespersons of two commercial banks told The According on Wednesday, that they were going to open.

“Yes. The bank is opening…watching the situation,” one of them said, and another said, “Oh yes, we are opening tomorrow, but services will be skeletal as we monitor developments.”

Aside from banks, shopping malls were closed around the Festac area and markets too, like the one at Cele Bus Stop.

A popular grocery store around Apple Junction told its staff members not to wear their customised outfits to work for security reasons and the eatery nearby, which was open, had the presence of armed police in front alongside their security guards.

While there have been concerns about the threat of violence during the protests, the economic impact of the protests has also been highlighted.

The Centre for the Promotion of Private Enterprise had cautioned that the protests could inflict an estimated daily loss of N400bn, with severe consequences for the country and its citizens.

The Director/CEO of CPPE, Dr Muda Yusuf, disclosed this in a statement on Sunday, saying, “The protests could inflict an estimated daily loss of N400bn, if not properly managed. The consequences of such a huge loss for the country and its citizens would be very severe.

“There is a high risk of shutdowns and disruptions in major sectors of the economy. This is in addition to risks to lives and properties of innocent citizens and corporate bodies.”

The protests, organised by various groups in the country, are aimed at drawing attention to the country’s economic woes, including high inflation, production costs, unemployment and hunger.