CBN releases more cash, orders banks to open Saturday, Sunday

The Central Bank of Nigeria (CBN) says it has directed all commercial banks to open for operation on Saturdays and Sundays.

It also said more banknotes had been evacuated from its vaults to commercial banks across the country.

A statement by the spokesman for the CBN, Isa Abdulmumin, said the measures were part of coordinated efforts to ease the circulation of banknotes of various denominations.

It said a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.

He 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.

“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs,” the statement added.

Abdulmumin said the CBN governor, Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country.

He urged Nigerians to be patient as the current cash shortage would ease soon with the injection of more banknotes into circulation.