Rising Diesel Cost: Another Bank Reduces Operating Hours

First Bank of Nigeria has revised operating hours for its branches, owing to the increase in the cost of diesel.

According to a publication on the website of the tier 1 bank, some branches are to operate from 8am to 1pm based on their locations, others 8am to 2pm, 8am to 3pm and 8am to 4pm.

“We have revised our banking hours across all our locations. The revised opening and closing hours will be effective from Monday, 11 April 2022,” the bank stated in the publication.

Rising energy cost, particularly diesel, has affected all the sectors of the economy, forcing many organisations to stagger operating hours in a bid to manage cost.

In some areas, the pump price of diesel per litre has risen to as high as N800 from the N225/litre in January 2021.

Nigeria is also battling with epileptic power supply as a result of incessant national grid collapse.

Guaranty Trust Holding Company Plc, GTCO, adopted similar measures weeks ago, reducing closing time from about 6pm to 4pm daily. CONTINUE READING…