CBN releases more naira notes, directs banks to open weekends

Central Bank of Nigeria CBN Governor Godwin Emefiele

The Central Bank of Nigeria (CBN) says it has released more banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations.

Acting director of the CBN’s corporate communications department Isa AbdulMumin disclosed this in Abuja on Friday.

He stated 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 also directed all commercial banks to open for operation on Saturdays and Sundays.

According to him, the CBN had 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 noted, adding that the Governor of the Central Bank of Nigeria, 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.