CBN notifies Nigerians that it has disbursed more Naira notes to commercial banks

As part of a coordinated effort to ease scarcity of banknotes of various denominations across the country, ocasioned by the Naira redesign, the Central Bank of Nigeria (CBN) has indicated that there were disbursements of naira notes from its vaults to commercial banks across the country

The apex bank 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 stating that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.

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 added 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.