CBN releases cash, instructs banks to open Saturdays, Sundays

CBN instructs banks to open Saturdays, Sundays.

 

As part of a concerted effort to facilitate the circulation of banknotes of various denominations, the Central Bank of Nigeria has instructed all commercial banks to operate on Saturdays and Sundays.

Additionally, the central bank confirmed the evacuation of banknotes from its vaults to commercial banks throughout the nation.

This latest development was disclosed in a statement signed by CBN Acting Director, Corporate Communications Department, Isa AbdulMumin, in Abuja, on Friday afternoon.

 

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The statement noted that commercial banks had received a substantial amount of money in various denominations for recirculation to their respective customers, even as it compelled banks to conduct physical operations in banking halls on weekends.

According to the statement, “The Central Bank of Nigeria (CBN) has ordered all banks to load their Automated Teller Machines and conduct physical operations in their banking halls over the weekends.

 

 

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Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs.

It was emphasised that the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, would personally lead teams to monitor the banks’ level of compliance in various locations across the country.

Therefore, the bank urged Nigerians to be patient, as the current situation will soon improve as more banknotes are introduced into circulation.”