As part of an effort to facilitate the circulation of banknotes of various denominations, the Central Bank of Nigeria (CBN) has confirmed the transfer of banknotes from its vaults to commercial banks throughout the country.
The CBN has also instructed all commercial banks to remain open for business on both Saturdays and Sundays.
The Acting Director of the CBN’s Corporate Communications Department, Dr. Isa AbdulMumin, issued a press statement stating that the commercial banks have received a significant amount of money in various denominations for onward distribution to their customers.
He further indicated that the CBN has directed banks to fill their Automated Teller Machines (ATMs) and conduct physical operations throughout the weekend.
The statement also notes that the Governor of the CBN, Mr. Godwin Emefiele, will personally oversee teams monitoring compliance with the directive across various locations in the country.
The public is urged to be patient as the situation is expected to improve soon with the injection of additional banknotes into circulation.