FACT CHECK: Claim on mobile cash transfer shutdown during elections false

A post circulating on social media, especially WhatsApp, alleges that that the Central Bank of Nigeria will be shutting down digital transactions from Thursday, February 23, till Monday, February 27. The post which has gone viral has generated reactions from Nigerians. Daily Trust observes that the messages are in two folds. The first one reads, […]

A post circulating on social media, especially WhatsApp, alleges that that the Central Bank of Nigeria will be shutting down digital transactions from Thursday, February 23, till Monday, February 27.

The post which has gone viral has generated reactions from Nigerians.

Daily Trust observes that the messages are in two folds.

The first one reads, “SPECIAL INFORMATION. CBN PLANS TO SHUT DOWN FINANCIAL TRANSACTION FROM THURSDAY 23 OF FEBUARY TILL 27TH OF FEBUARY.. GO AND STOCK YOUR HOME….

“Anyhow you can get money between today and tomorrow, get and keep it, also whatever transfer you want to do, do it between today and tomorrow, information am hearing is that, as from Thursday, bank network will go off till Sunday or Monday, so that polititian will not be able to transfer money to anybody for vote, so buy enough food at home, do ur transfer now. Because the next five days will be difficult pls.”

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Another post reads: “Good afternoon everyone, I trust we all had a peaceful day… Alright… I just want to pass an important information here, so no one will be stranded due to the new development of no Cash….

“I got an important information from a Bank Manager today who specifically told me by Friday till Sunday evening online transfer will not be working anymore, that CBN has order all banks to shut down online transfer due to the election….so pls kindly look for cash from now till Friday because do not hope for transfer by weekend…. Stay safe and vote wisely,”

Verdict: FALSE

Verification: Daily Trust verified the claim and found it to be false. An official of the CBN, who is not authorized to speak, said the apex bank couldn’t have authorized such information, adding that tge post had been labelled “fake”

Similarly, in a statement recently, the CBN debunked similar claim alleging that it will shut down a bank from a particular part of Nigeria

The bank had said, “There is a misleading voice note trending in social media alleging that the CBN planned to shut down some banks, particularly in a particular geopolitical region of the country.

“We wish to state unequivocally that there is no such plan and that the claims are illogical and do not comply with the workings of the Nigerian banking system. The public is therefore advised to ignore such recordings as they do not represent the policy thrust of the CBN and are only the desperate attempts of persons bent on inciting the public against the Bank.”

Conclusion: Following verification, Daily Trust can confirm that the said message in circulation is Fake and did not emanate from the CBN.

This Fact Check is produced in partnership with the Centre for Democracy and Development CDD