UBA Cote D'Ivoire Suspends Banking Operations

Source: THEWILL. - thewillnigeria.com

LAGOS, Feb 20, (THEWILL) – The United Bank for Africa Cote d'Ivoire Limited, a subsidiary of United Bank for Africa Plc, the Pan African financial institution with offices in 18 African countries has announced a temporary suspension of banking operations in troubled Cote in d'Ivoire.

The suspension of operation in Cote d'Ivoire is consistent with our group staff welfare code given the current political situation in the country at the moment and the implication for the security of our employees.

According to the Managing Director of UBA Cote d'Ivoire , Mr. Liby Guillamme, the suspension of banking operations became more expedient following the political situation in the country that has made banking operations in the country non-sustainable at the moment.

UBA Cote d’Ivoire, according to Mr. Guillamme, will resume operations in the country as soon as the socio-political and economic environment improves.

United Bank for Africa Plc is one of Africa's leading financial institutions offering universal banking to more than 7 million customers across Africa and the world.

Access Bank had last week shut its operations in the country citing the same reason.