The Central Bank of Nigeria (CBN) has confirmed that banknotes from its vaults have been evacuated 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 that all commercial banks be open on Saturdays and Sundays.
According to a press release issued by the CBN’s Acting Director of Corporate Communications, Dr. Isa AbdulMumin, a substantial amount of money in various denominations has been received by commercial banks for onward circulation to their respective customers.
According to him, the CBN had directed all banks to load their ATMs and conduct physical operations in banking halls on weekends.
According to the statement, Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria, will personally lead teams to monitor the level of compliance by banks in various locations across the country.
As a result, he urged Nigerians to be patient, as the current situation would soon improve with the introduction of new banknotes into circulation.
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