CBN Disburses Cash To Banks, Orders Weekend Operations
The Central Bank of Nigeria (CBN) has revealed the distribution of banknotes from its vaults to commercial banks across the country as part of efforts to ease the circulation of notes.
The CBN in a directive ordered banks to be in full operation on Saturday and Sunday in order to attend to customer needs.
The Acting Director, Corporate Communications Department of the CBN, Dr. Isa AbdulMumin, disclosed this in Abuja on Friday, stating that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.
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According to him, the apex bank 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.
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The Nigeria Labour Congress (NLC) had directed its members to picket the offices of the Central Bank of Nigeria (CBN) nationwide over cash scarcity.
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