The Central Bank of Nigeria (CBN) has ordered all commercial banks to be open on weekends. This is truly to ensure the circulation of banknotes of different denominations.
The CBN confirmed the evacuation of banknotes from its vaults. The banknotes have been dispatched to various banks in the country. This information was disclosed in a statement received on Friday afternoon. Also, the statement was signed by by CBN Acting Director, Corporate Communications Department, Isa AbdulMumin, in Abuja.
Equally important is that a huge amount has been received by commercial banks. Additionally, this is for circulation to their custom. Hence, the need for physical operations in banking halls on Saturdays and Sundays.
Also, CBN has directed all commercial banks to load their Automated Teller Machines with cash. Branches will open to attend to customers’ physical needs.
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, will personally lead teams to monitor the distribution of cash. Consequently, this is to ensure that banks around the country comply with this directive. Therefore, the apex bank urges Nigerians to be patient. Further, CBN promises Nigerians that the current situation of cash scarcity will be over soon. Hence, the injection of cash into the economy.
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