Why CBN Directed Banks To Open Branches Saturday, Sunday

In a bid to ease the scarcity of cash, the Central Bank of Nigeria (CBN) has directed all commercial banks to open for operation on Saturdays and Sundays.

This is as the apex and commercial banks also confirmed delivery of banknotes to the banks which are geared towards naira notes supply in circulation.

Reports say CBN had on Wednesday, directed commercial banks to evacuate banknotes from their vaults for onward circulation to customers.

The apex bank confirmed its latest directive in a statement by its Acting Director, Corporate Communications Department, Dr. Isa AbdulMumin.

According to AbdulMumin, a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.

He said 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 also added that the Governor of the Central Bank of Nigeria, 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.

In other news, Kanyi Daily reported that the Court of Appeal sitting in Abuja has set aside the judgement of the Osun State Election Petition Tribunal that annulled the victory of Governor Ademola Adeleke of the Peoples Democratic Party (PDP) in the July 16, 2022, Osun State governorship election.

The appeal court set aside the judgement on Friday.