As part of a coordinated effort to ease the circulation of banknotes of various denominations, the Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks throughout the nation and instructed all commercial banks to open for business on Saturdays and Sundays.
Dr. Isa AbdulMumin, the acting director of the CBN’s corporate communications department, made this announcement late on Friday in Abuja. He said the commercial banks had received a sizeable sum of money in a variety of denominations for distribution to their respective clients.
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He said that the CBN had ordered all banks to operate physically in the banking halls over the weekends in addition to loading their Automated Teller Machines (ATMs).Orders Banks To, Assess Cash
“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs,” he noted, adding that the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country.
He, therefore, urged Nigerians to be patient as the current situation would ease soon with the injection of more banknotes into circulation.
