, Naira redesign: CBN instructs banks to open on Saturdays -

Naira redesign: CBN instructs banks to open on Saturdays

As part of a coordinated effort to facilitate the circulation of banknotes of various denominations, the Central Bank of Nigeria has ordered all commercial banks to operate for business on Saturdays and Sundays.

The country’s top bank also acknowledged that banknotes had been moved out of its vaults and into commercial banks all around the nation.

This most recent development was announced in a statement released on Friday afternoon in Abuja and signed by Isa AbdulMumin, Acting Director of the CBN’s Corporate Communications Department.

According to the statement, commercial banks had received a sizeable sum of money in a variety of denominations for distribution to their individual consumers, even though banks were still required to carry out physical activities in banking halls on the weekends.

The following is taken from the statement: “The CBN has instructed all banks to load their ATMs and carry out physical activities in the banking halls on weekends.
Commercial bank branches will be open on Saturdays and Sundays to help consumers with their cash needs.

It was emphasized that the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, will personally oversee teams to assess the degree of compliance by the banks in various parts of the nation.

The bank advised Nigerians to have patience since the current situation will soon improve as additional banknotes entered circulation.

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