. Confirms evacuation of banknotes to DMBs
. Emefiele to monitor compliance personally
In a latest move to ease the scarcity of Naira in banks, the Central Bank of Nigeria (CBN) has directed all commercial banks beginning from this weekend, to open for operation on Saturdays and Sundays.
Such operations would also be personally monitored by the CBN Governor, Godwin Emefiele, to ascertain determine the level of compliance
This follows the evacuation of banknotes from CBN vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations.
The Acting Director, Corporate Communications Department of the CBN, Dr. Isa AbdulMumin, confirmed this in a statement today.
AbdulMumin also confirmed that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.
The CBN has directed all banks to load their Automated Teller Machines (ATMs) as well as conduct physical operations in the banking halls through the weekends.
According to him, the CBN has directed all banks to load their Automated Teller Machines (ATMs) 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,” he said.
By this directive, banks no longer have any reason to keep telling customers, “no cash” which has become their favourite phrase in recent times.
AbdulMumin explained that the CBN Governor, Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country.
He, therefore, urged Nigerians to be patient as the current situation would ease soon with the injection of more banknotes into circulation.
Over the last few months, Nigerians have become agitated over the continued scarcity of bank notes, leading to poor economic activities and huge losses by businesses across the country.
