President Muhammadu Buhari has on March 30 approved skeletal operations for financial service providers like banks and money markets in states on lockdown, it emerged.
It would be recalled that in a nationwide speech on Sunday, President Muhammadu Buhari announced the cessation of all movements in Lagos, Ogun and Abuja for an initial period of 14 days with effect from 11p.m. on Monday, March 30.
The only commercial establishments granted exemptions include food processing, distribution and retail companies; petroleum distribution and retail entities; power generation, transmission and distribution companies, and private security companies.
However, considering the strategic importance of the financial sector, the Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Central Bank of Nigeria governor, Godwin Emefiele, requested the approval of the president for light operations in the financial system.
In a joint statement, they said the request was made to ease the burden the restriction order could bring on ordinary Nigerians.
They added that the exemptions to ensure Nigerians can still perform online transactions and use the ATM to withdraw money to meet their financial needs while observing the restrictions during the period.
A part of the statement reads;
We will like to inform the general public and all affected stakeholders that we have obtained exemptions from the President to allow very skeletal operations in the financial system and money markets in order to keep the system in light operations during the time.
The finance and CBN heads further urged Nigerians “to be patient, cooperative and united as the country battles to defeat Coronavirus.”
Consequently, the minister of finance said all relevant staff of the affected outfits and agencies should look out for further instructions from their bosses.
Although these establishments are exempted, access will be restricted and monitored.
