The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country, and  has also directed all commercial banks to open for operation on Saturdays and Sundays.

The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country, and  has also directed all commercial banks to open for operation on Saturdays and Sundays.

The apex bank said the new directive is part of a coordinated effort to ease the circulation of banknotes of various denominations.

The Acting Director, Corporate Communications Department of the CBN, Dr. Isa AbdulMumin noted that a substantial amount of money in various denominations, had been received by the commercial banks for onward circulation to their respective customers.

He also said 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.

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 statement read; 

“The CBN has 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 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.”