Banks to open weekends as CBN disburses naira notes nationwide
The Central Bank of Nigeria (CBN) has confirmed the evacuation of 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.
The CBN has also directed all commercial banks to open for operation on Saturdays and Sundays.
The Acting Director, Corporate Communications Department of the CBN, Dr Isa AbdulMumin, disclosed this in Abuja on Friday, March 24, 2023, stating that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.
READ ALSO: CBN affirms Supreme Court’s ruling, declares old notes legal tender
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.
He said that 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.
He, therefore, urged Nigerians to be patient as the current situation would ease soon with the injection of more banknotes into circulation.
Neptune Prime reports that the CBN has complied with the Supreme Court’s ruling on March 3rd, 2023, declaring that the old N200, N500, and N1,000 remain legal tender till December 31.
The move is a soothing development for Nigerians following the controversies and hardship people faced because of the naira redesign policy and its subsequent scarcity.
