Access Bank has strongly dismissed viral social media messages claiming that the financial institution is shutting down. The lender described the circulating information as misleading, untrue, and a deliberate attempt to cause panic among its customers and stakeholders.

In an official notice issued on Thursday, the bank clarified that the message impersonated its official communication channels. The bank reassured the public that all its operations and subsidiaries remain safe, financially strong, and fully operational.

Bank Vows Legal Action Under Cybercrimes Act

Access Bank announced it is collaborating with regulatory and law enforcement agencies to track down those responsible for creating and spreading the false narrative. The bank warned that such actions constitute a serious offense under Nigerian law.

Specifically, the deliberate dissemination of false information to cause panic is punishable under Section 24 of the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024. The lender urged customers to disregard the viral message and rely solely on verified communication channels.

This incident follows a broader trend of digital impersonation in Nigeria. In April, the Nigeria Revenue Service warned against a fake infographic regarding a new vehicle tax scheduled for July 1. In May, Nairametrics issued a disclaimer over AI-generated videos falsely depicting its founder, Ugo Obi-Chukwu, promoting investment schemes.

Access Holdings Maintains Strong Financial Position

The bank's reassurance comes shortly after its parent company, Access Holdings Plc, held its fourth Annual General Meeting in Lagos in June. During the meeting, Chairman Aigboje Aig-Imoukhuede reiterated the group's commitment to maximizing shareholder value.

The group reported a profit of N1.007 trillion and an asset base of N51.56 trillion for the 2025 financial year. The board also reassured shareholders of its commitment to resuming dividend payments once all regulatory requirements are finalized.