As part of a coordinated effort to facilitate 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.
Also, the CBN has ordered all commercial banks to be open on Saturdays and Sundays.
Dr. Isa AbdulMumin, the CBN’s acting director of corporate communications, made this announcement in a statement on Friday in Abuja.
Dr AbdulMumin stated that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.
According to him, 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,” 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.