Cash crunch: CBN directs banks to open Sat, Sunday



The Central Bank of Nigeria has directed commercial banks in the country to open for operations on Saturdays and Sundays, to ease the misery and agony caused by the lingering scarcity of the Naira.

The CBN also disclosed that it has released banknotes to all the commercial banks in the country.

The apex bank’s latest move was an obvious reaction to the threat by the Nigeria Labour congress to launch a nationwide protest in the offices of the CBN across the country next week.

The Acting Director, Corporate Communications Department, Dr. Isa AbdulMumin, made the disclosure in a statement in Abuja Friday.

The Apex Bank’s Spokesman said that banknotes have been released to commercial banks for circulation to their customers.

“The CBN has directed all banks to load their Automated Teller Machines, 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.

“The Governor of 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 said.

The CBN promised that the current scarcity of the Naira which had triggered unimaginable misery would soon ease as the bank with the release of more funds to the banks.



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