As part of a coordinated effort to facilitate the circulation of banknotes of various denominations, the Central Bank of Nigeria (CBN) has approved the outflow of banknotes from its vaults to commercial banks throughout the nation.
Also, the CBN has ordered all commercial banks to be open on Saturdays and Sundays.
This was announced in Abuja on Friday, March 24, 2023 by Dr. Isa Abdul Mumin, Acting Director of the CBN’s Corporate Communications Department.
He claimed that the commercial banks had received a sizeable sum of money in a variety of currencies for distribution to their respective clientele.
He also said that the CBN had instructed all banks to load their ATMs and carry out physical operations in the banking halls during the weekends.
“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs,” he noted,
Dr. Isa Abdul Mumin revealed that teams would be personally led by Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria, to assess the degree of compliance by the banks in various regions across the nation.
He thus pleaded with Nigerians to exercise patience, as the current scenario would soon improve as additional banknotes are now in circulation.
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