The Central Bank of Nigeria (CBN), under Governor Godwin Emefiele, has ordered all commercial banks to operate on Saturdays and Sundays. This move is part of a coordinated effort to ease the circulation of banknotes in various denominations. The apex bank also confirmed that it has transferred banknotes from its vaults to commercial banks across the country.
In a statement signed by CBN Acting Director of Corporate Communications Isa AbdulMumin in Abuja on Friday afternoon, the bank noted that a substantial amount of money in different denominations has already been received by commercial banks for onward distribution to their customers. The statement emphasized that banks are now required to conduct physical operations in their banking halls throughout the weekends.
Key excerpts from 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.” It added that Governor Godwin Emefiele will personally lead teams to monitor compliance by banks in various locations across the country.
The CBN urged Nigerians to be patient, assuring that the current situation will improve soon with the injection of more banknotes into circulation. Authorities have intensified efforts to end the severe currency scarcity that has affected millions of bank customers nationwide, following a Supreme Court ruling and a planned protest by the Nigeria Labour Congress scheduled for next week.
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