Redesigned Naira: CBN evacuates notes from vaults, directs Banks to operate weekends

The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country.

This, according to a press statement issued Friday by the apex Bank’s Acting Director, Corporate Communications Department, Dr. Isa AbdulMumin, is part of a coordinated effort to ease the circulation of banknotes of various denominations.

Similarly, AbdulMumin confirmed that the CBN has directed all commercial banks to open for operation on Saturdays and Sundays.

CBN Spokesperson disclosed 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 CBN Governor, 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.

Many Nigerians have been groaning under pains due to the cash crunch that trailed the new monetary policy as introduced by CBN.