BREAKING: Central Bank Of Nigeria Orders Commercial Banks To Operate During Weekends Over Naira Scarcity
March 24, 2023

The bank advised Nigerians to exercise patience because the current situation would soon improve once more banknotes entered circulation.

As part of a coordinated effort to ease the circulation of banknotes of various denominations, the Nigerian Central Bank has ordered all commercial banks to open on Saturdays and Sundays.

 

This was stated in a release by the CBN Acting Director, Corporate Communications Department, Isa AbdulMumin, in Abuja on Friday afternoon, stating that the

 banknotes from its vaults had been evacuated to commercial banks across the country.

 

The statement claimed that the commercial banks had received a sizeable sum of money in various denominations, which they would use to distribute to their respective customers and carry out physical operations in the banking halls on the weekends.

 

Part of the statement read, “The CBN had 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.

 

“The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country.”

 

The bank advised Nigerians to exercise patience because the current situation would soon improve once more banknotes entered circulation.

 

Following a Supreme Court decision and a proposed protest by the Nigeria Labour Congress for the following week, authorities have increased efforts to end the biting currency scarcity that has caused pain to millions of bank customers nationwide.

 

Recall that Pan-Yoruba socio-political organisation, Afenifere, had called on President Muhammadu Buhari to order the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to supply commercial banks across the country with the old and new Naira notes to end the lingering Naira scarcity in the country.

https://saharareporters.com/2023/03/24/breaking-central-bank-nigeria-orders-commercial-banks-operate-during-weekends-over-naira