The Central Bank of Nigeria, CBN, says it has directed the evacuation of banknotes from its vaults to commercial banks, across the country.
The CBN has also directed all commercial banks to open for operation on Saturdays and Sundays, as part of efforts to ease the circulation of banknotes of various denominations.
CBN’s Acting Director, Corporate Communications Department, Dr. Isa AbdulMumin, announced this, in Abuja, on Friday, March 24, 2023.
He noted that a substantial amount of money, in various denominations, had been received by commercial banks for onward circulation to their respective customers.
According to him, the CBN has also 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,” Dr. AbdulMumin noted.
He added that the Governor of the Central Bank of Nigeria, Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations, across the country.
He, however, urged Nigerians to be patient as the current situation would ease soon with the injection of more banknotes into circulation.