Central Bank of Nigeria evacuates banknotes to Deposit Money Banks.
The Central Bank of Nigeria (CBN) has confirmed the
evacuation of banknotes from its vaults 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 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, on Friday, March 24, 2023, 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, adding 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.
More photos below.
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