Agency Reporter

Wednesday, 16 Feb 2011

Access Bank plc of Nigeria and two other banks, Citi Bank of America and BICICI Bank of France have shut down their operations in Cote d’Ivoire, following prolonged political stalemate in that country.

BICICI is a subsidiary of the French BNP Baribas.

A statement posted on the website of the BICICI said the bank had to close temporarily for security reasons. “We regret to announce to you that BICICI temporarily suspended its activities from this day February 14, 2011.

“We are no longer able to ensure that our work is done in satisfactory legal and accounting conditions for our customers or ensure the physical security of our staff, the statement signed by the bank’s Managing Director, Yao Kouassi, said.

According to the statement, the French bank said its operations had been hampered by many legal and regulatory confusions in Cote d’Ivoire.

A member of staff of the Nigerian Bank in Abidjan told the West Africa correspondent of the News Agency of Nigeria that there was a directive from Lagos that the bank in Cote d’Ivoire be closed on Monday.

“We had to go home, but we are not sure when the bank will be re-opened,” the employee said.

Source: Punch