Naira Scarcity: CBN jittery, orders banks to open on Saturdays, Sundays

…”No going back on picketing its branches nationwide” – NLC

The Central Bank of Nigeria (CBN) has directed all commercial banks to open for operation on Saturdays and Sundays, as part of a coordinated effort to ease circulation of Naira of all denominations.

This came as the Nigerian Labour Congress (NLC) declared that there is no going back on its decision to picket the CBN by Wednesday.

This is as the bank says it has confirmed the evacuation of banknotes from its vaults to commercial banks across the country.

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, 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.

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