Central Bank of Nigeria has directed all commercial banks to open for operation on Saturdays and Sundays, as part of a coordinated effort to ease circulation of banknotes of various denominations.
in a statement by Acting Director, Corporate Communications Department, Isa AbdulMumin, the apex bank also confirmed the evacuation of banknotes from its vaults to commercial banks across the country.
AbdulMumin said a substantial amount of money, in various denominations, had been received by commercial banks, appealing to banks to conduct physical operations in banking halls on Saturdays and Sundays to attend to customers’ cash needs.
He also said the Governor of CBN, Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country.
The apex bank has stepped up efforts to end cash scarcity nationwide after a Supreme Court ruling, and a proposed protest by Nigeria Labor Congress, scheduled for next week.
