Access Bank Dismisses Shutdown Rumours, Vows Legal Action Against Misinformation Spreaders

Access Bank Plc has reassured millions of customers that it is financially strong and fully operational after false reports on social media claimed the bank was shutting down. The lender described the viral message as fake and urged the public to rely only on updates from its official communication channels.

In a statement shared on its official X account on Thursday, Access Bank said the message was falsely presented as an official notice and was designed to create unnecessary panic. The bank stressed that there was no truth whatsoever in claims suggesting it was winding down or facing operational difficulties.

Bank: Operations running normally

According to Access Bank, its banking operations continue to run normally across all its subsidiaries, with customers able to access services without disruption. The financial institution said customers should remain confident in its stability and disregard any rumours intended to undermine public trust.

“We wish to reassure our customers, partners, stakeholders, and the public that Access Bank is safe, financially strong, and fully operational across all our subsidiaries. Our services continue to run seamlessly, and we remain committed to serving our customers with the highest standards of excellence,” the statement read.

Regulatory authorities, law enforcement involved

Access Bank revealed that it has begun working with relevant regulatory authorities and law enforcement agencies to identify those responsible for creating and spreading the false information. The bank warned that appropriate legal action would be taken against anyone found to have deliberately circulated the misleading claims.

“We are working closely with the relevant regulatory and law enforcement authorities to identify those responsible for creating and spreading this false information to cause panic and business disruption. Appropriate legal action will be taken in accordance with applicable laws and regulations,” it stated.

Cybercrime law cited

The lender reminded customers that deliberately creating or spreading false information capable of causing panic or damaging confidence in institutions is an offence under Section 24 of the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024. It advised members of the public not to forward the fake message if they receive it, but instead verify information through Access Bank's official and verified platforms.

The clarification comes as financial institutions continue to battle the spread of misinformation on social media, with banks increasingly urging customers to verify claims before sharing them to avoid unnecessary panic and disruption.

For Nigerian bank customers, the episode is a reminder that fake news can move quickly, and verifying claims through official bank channels is now a necessary step before acting on any viral alert.