The Central Bank of Nigeria, CBN, has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a concerted effort to ease the circulation of different denominations of banknotes.
The CBN has also instructed that all commercial banks be open on Saturdays and Sundays.
Dr. Isa AbdulMumin, Acting Director, Corporate Communications Department of the CBN, announced this in Abuja on Friday, noting that commercial banks had received a large amount of money in various denominations for onward circulation to their respective consumers.
According to him, the CBN has advised all banks to load their ATMs and perform physical activities in banking halls on weekends.
“Branches of commercial banks will be open on Saturdays and Sundays to meet the cash needs of customers,” he said, adding that the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, would personally lead teams to monitor the level of compliance by banks in various locations across the country.
As a result, he asked Nigerians to be patient, as the current situation would soon improve with the introduction of new currencies into circulation.