As part of a coordinated effort to facilitate the circulation of banknotes of various denominations, the Central Bank of Nigeria has ordered all commercial banks to open for business on Saturdays and Sundays.
The country’s top bank also acknowledged that banknotes had been moved out of its vaults and into commercial banks all over the nation.
This most recent development was announced in a statement released on Friday afternoon in Abuja and signed by Isa AbdulMumin, Acting Director of the CBN’s Corporate Communications Department.
The statement noted that, a substantial amount of money, in various denominations, had been received by commercial banks, for onward circulation to their respective customers, even as it prevailed on banks, to conduct physical operations in banking halls through the weekends.
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Excerpts of the statement read: “The CBN has directed all banks to load their Automated Teller Machines, 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 Governor of 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,” it stressed.
The bank, therefore, urged Nigerians to be patient, as the current situation would ease soon, with the injection of more banknotes into circulation.
The PUNCH reports that authorities have stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide, after a Supreme Court ruling, and a proposed protest by Nigeria Labour Congress, scheduled for next week.
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