CBN
CBN says substantial naira notes have been distributed to banks
…Instructs banks to open Saturdays, Sundays
Central Bank of Nigeria (CBN) says it has directed all deposit money banks in the country to open for operation on Saturdays and Sundays, as part of a coordinated effort to ease circulation of banknotes of various denominations.
The apex bank which said it has evacuated banknotes from its vaults to commercial banks across the country , added that the measure is part of a coordinated effort to ease the circulation of banknotes of various denominations.
In a statement on Friday, Acting Director, Corporate Communications Department Isa Abdulmumin of CBN, said that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.
He said the CBN had directed all banks to load their automated teller machines (ATMs) as well as conduct physical operations in the banking halls through the weekends.
“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs,” the statement reads.
Abdulmumin said Godwin Emefiele, CBN governor, would personally lead teams to monitor the level of compliance by the banks in various locations across the country.
He urged Nigerians to be patient as the current cash shortage would ease soon with the injection of more banknotes into circulation.
