Emefiele to lead monitoring of CBN’s efforts to ease naira scarcity
Quick Read
CBN said it has also directed all commercial banks to open for operation on Saturdays and Sundays to meet their customers’ demand for naira notes
By Kadiri Abdulrahman
The Governor of Central Bank of Nigeria, CBN , Godwin Emefiele, would personally monitor compliance of the commercial banks to measures to ease the circulation of banknotes of various denominations across the country.
The apex bank said this on Friday while confirming that it has initiated massive evacuation of banknotes from its vaults to commercial banks across the country.
The CBN , in a statement issued by Dr Isa AbdulMumin, its Acting Director, Corporate Communications, added that it has also directed all commercial banks to open for operation on Saturdays and Sundays to meet their customers’ demand.
He said a substantial amount of money in various denominations had been received by the banks for onward circulation to their customers.
“The CBN has also 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 said.
He urged Nigerians to exercise patience as the current situation would soon ease off with the injection of more banknotes into circulation.
(NAN
Comments